Dogecoin falls 7.6% as large holders add 600 million DOGE since October 12

Dogecoin traded around $0.0802 on October 17, representing a 7.6% decline from its weekly opening figure. The move pushed the cryptocurrency below the $0.081 price point identified as key by market analyst Ali Martinez. Trader Tardigrade, a cryptocurrency analyst known for technical chart reviews, pointed to Dogecoin’s return to a monthly support trendline that has signaled significant price bounces in the past. Tardigrade identified three such contact points: in 2017, in 2020, and a projected repeat in 2026. His analysis suggested that in both previous instances, the price rebounded sharply after touching this line. Dogecoin is now positioned just below this long-term trendline once again.

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