Saad Ullah
Dogecoin is sitting at a crossroads that could define its next big move. New on-chain data from Glassnode reveals two massive price clusters that have everyone's attention. With solid support at $0.229 and a wall of resistance at $0.355, DOGE is about to show its hand.
The Numbers That Matter
According to analyst Ali, that $0.229 zone is crucial - it's where buyers have shown up consistently and built a foundation. But the real action is happening at $0.355, where a ton of holders are looking to break even or take profits.
Here's what the data shows:
- Support at $0.229: Over 4 billion DOGE (2.7% of total supply) was bought here, creating a strong floor that's held up well
- Resistance at $0.354-$0.355: Nearly 2.8 billion DOGE (1.85% of supply) sits waiting to sell, forming a significant barrier
What Happens Next?
Break above $0.355 and DOGE could rocket toward $0.40 pretty quickly. The momentum from clearing such a thick resistance level usually creates follow-through buying. But if it fails? We're probably looking at a slide back to $0.28-$0.30, or worse, all the way down to that $0.229 support.
The technical setup is clean - either we punch through and run higher, or we get rejected and fall back. No middle ground here. Bulls need to bring serious volume to crack this level, because those 2.8 billion DOGE sitting overhead won't move easily.
Saad Ullah
