Can Dogecoin Hold Key Support? Analyst Sees Path to $0.10

Dogecoin is defending a key on-chain support level, with traders pointing to potential upside opportunities for the cryptocurrency.

Can DOGE Hold Support?

Crypto chart analyst Ali Martinez highlights $0.081 as one of Dogecoin's most important support levels, where approximately 30 billion DOGE changed hands.

If DOGE holds this level, Martinez believes there is relatively little on-chain resistance between the meme coin and $0.177, representing over 100% upside potential from the support level.

Trader Osemka notes that Dogecoin has broken through the significant $0.0873 level from 2021, calling the latest weekly close a major technical victory.

The trader believes DOGE has completed waves 1 and 2 and is currently in a larger wave 3.

However, based on Dogecoin's performance in previous cycles, Osemka expects continued volatile upward movement before any potentially larger expansion.

David Gokhshtein states that Dogecoin and Shiba Inu remain the "kings" of the meme coin sector, arguing that new coins must surpass their all-time highs to dethrone them. DOGE and SHIB still account for approximately half of the sector's total market capitalization.

CleanCore Moves Away from Dogecoin

Amid the bullish technical outlook, CleanCore Solutions is shifting from its Dogecoin treasury strategy to AI infrastructure.

The company sold nearly all of its 463 million DOGE on July 20 for approximately $33.4 million, directing the proceeds to its AI infrastructure division. The company did not disclose whether it retains any DOGE or whether the tokens were staked.

This move could raise concerns about potential DOGE supply overhang.

Meanwhile, CleanCore completed a $100 million public stock offering on August 12, increasing its share count.

The company plans to use the offering proceeds as part of its transition from clean products and Dogecoin treasury assets to AI infrastructure in Minnesota.