Dogecoin (DOGE) is trading near a key support zone after weeks of sustained downside pressure, with a crypto analyst pointing to signs that selling momentum may be weakening following an extended decline. DOGE has fallen sharply since October, bringing price back toward levels last tested earlier this year. At the time of writing, the token was changing hands around $0.13, holding near recent lows after repeated attempts by sellers to push it lower.
DOGE Analyst Identifies Liquidity Sweep Near Support
Crypto analyst BitGuru said Dogecoin appears to have completed a liquidity sweep near support, a move that typically clears sell-side liquidity after a prolonged downtrend. The analyst said recent price action shows compression near the lows, a structure often associated with slowing downside momentum.
The support zone Showed in the analysis aligns with prior consolidation ranges from earlier this year, giving the level added technical relevance. BitGuru cautioned that stabilization alone does not confirm a reversal and depends on price continuing to hold above the current range.
Despite signs of easing sell pressure, Dogecoin continues to trade below multiple former support zones that have turned into resistance. The broader price structure still shows a sequence of lower highs formed over recent months, keeping the near-term trend under pressure.
According to the analyst, any recovery attempt would require sustained spot buying and follow-through above those resistance levels, rather than brief speculative moves.
Whale Accumulation Appears Near Support Levels
Separate market data showed increased large-holder activity during the same period. An X post by the account CEO Investments reported that wallets classified as whales accumulated more than 300 million DOGE over the past 24 hours as DOGE price hovered near the support area identified in the analysis.
While the figure represents a small share of Dogecoin’s circulating supply, the activity stands out compared with recent wallet behavior and coincided with the support test. The data does not establish whether the accumulation reflects long-term positioning or short-term trading.
BitGuru described Dogecoin as being at a decision point. Holding above the current support range could allow for a short-term relief move, while a decisive break below it would weaken the stabilization view and keep downside risks in focus.
For now, the analysis frames DOGE as showing early signs of selling exhaustion rather than a confirmed shift in trend, with the next move dependent on how price behaves around this support zone.
