Dogecoin has received a fresh buy signal from the Tom DeMark Sequential (TD Sequential), marking a potential reversal after a 31% correction from $0.113 to $0.078. According to crypto.news data, DOGE traded near $0.085135 on June 11, up 2.09% over 24 hours, though the cryptocurrency remains down 4.42% over seven days and 22.54% over the past month. The same indicator that warned of DOGE's latest correction has now turned bullish, with analyst Ali Martinez noting that the new signal suggests "a rebound could be around the corner" after the heavy correction. The TD Sequential, which identifies market exhaustion, suggests sellers may be losing strength after DOGE fell to its weakest area in more than a year.
Dogecoin has experienced significant whale accumulation activity, with large holders purchasing more than 200 million DOGE over the past week, as reported by crypto.news. According to Santiment data, whale holdings increased from 18.60 billion DOGE to roughly 18.84 billion DOGE, with buyers accumulating more than 40 million DOGE per day on average over the past five days. This accumulation coincides with historical demand levels last seen five years ago when Elon Musk announced that SpaceX would accept Dogecoin payments, potentially boosting demand ahead of the upcoming SpaceX IPO. The current price action aligns with these historical demand patterns, strengthening the bullish case if buying pressure continues.
DOGE is currently trading near $0.085135 with trading volume reaching $654.47 million and market cap near $13.16 billion, maintaining its position as the 10th-largest crypto asset. However, the daily chart still shows a broader downtrend from September-October highs near $0.25-$0.30, with DOGE continuing to print lower highs and lower lows since that period. The first resistance sits near $0.096, with a clean move above that level potentially opening the way toward the $0.100-$0.110 zone. The RSI sits near 32.61, placing DOGE close to oversold territory after the recent decline, while volume sits near 198.61 million DOGE showing market activity but not confirming a breakout. A successful reclaim of $0.096-$0.100 would be the first sign that the current sell-side structure is weakening.
Derivatives market data reveals DOGE derivatives volume rose 8.76% to $1.47 billion with open interest increasing 2.52% to $1.03 billion, according to Coinglass data. However, options volume fell 86.36% to $143.33, while options open interest rose 8.17% to $1.37 million, showing that futures remain the main area of trader activity. The higher open interest near support can create two outcomes - supporting a rebound if long positions gain momentum or leading to liquidations if price breaks lower. Spot netflow remains quiet at $53,940, which is small compared with the large multi-million-dollar flow spikes seen during earlier selloffs, indicating current spot flows do not show heavy accumulation or strong selling pressure.
Dogecoin is currently trading near $0.085135, a level that previously served as the launch point for the move toward $0.50. According to UTXO Realized Price Distribution (URPD) data, more than 30 billion DOGE last moved near $0.081, reinforcing that zone as a strong holder cost basis and major psychological and financial support area. The market has revisited this support zone multiple times, including in mid-2024, February, and again currently. A bounce from current levels to the local range high at $0.11824 would represent a gain of roughly 47%. However, Dogecoin has yet to form a clear reversal signal, meaning the market may still require additional confirmation before a durable bottom is established, with only a successful reclaim of $0.11824 as support strengthening the long-term bottom thesis.
