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Dogecoin’s daily chart against the U.S. dollar on Binance shows the price holding near a critical demand zone as traders assess whether the meme coin can regain upside momentum.
Technical analysis shared by Cantonese Cat on X places Dogecoin around $0.1401 as of Jan. 16, 2026, slightly lower on the day. The chart captures a broader downtrend that started after the price failed to remain above the $0.18–$0.19 supply zone; that area remains a major overhead barrier.
Since November, price actions have formed lower highs and lows, confirming extended bearish pressure. Several recovery attempts stalled near a grey resistance band around $0.15–$0.152. Each rejection triggered renewed selling, keeping the prices capped below this zone.
At the same time, buyers continue to defend lower levels, creating a tense balance near current prices. Can Dogecoin hold this demand zone long enough to force a decisive move?
The chart outlines multiple rounded bottom formations across December and early January. These formations signal short-term demand responses rather than confirmed trend reversals. Each bounce lacked follow-through above resistance. As a result, the broader structure remained intact.
The most recent rebound began near $0.115, where the price printed a sharp recovery candle, pushing Dogecoin back toward mid-range levels before momentum slowed again. Prices then rolled over and drifted lower.
Currently, Dogecoin trades within a green buy order block between roughly $0.128 and $0.135. This zone marks prior demand that previously produced strong upside candles. As long as prices stay above this block, buyers retain a technical foothold.
Dogecoin’s daily chart also shows signs of a developing inverse head and shoulders pattern. This structure often signals a potential bullish reversal when confirmed. The left shoulder, head, and right shoulder appear across recent price swings.
Analysts have identified the neckline near the $0.152 level. This price aligns with the grey resistance band that capped several rallies. A clean break above this level would invalidate the pattern’s resistance and open higher targets.
If the price clears $0.152, analysts point to $0.186 as the next upside area. Until that happens, it remains range-bound between demand near $0.13 and resistance near $0.15.
Read More: Dogecoin Price Forecast: DOGE Could Explode From Here Like Previous Cycles
On-chain data shows whale investors acquired more than 297 million DOGE within 24 hours. Such accumulation often coincides with expectations of price expansion. Analysts frequently monitor these moves for clues about future market direction.
Trader Tardigrade noted on X that Dogecoin rebounded from Kumo support, a signal aligned with bullish momentum. He suggested the price could move above $0.15 following the rebound, alongside a broader crypto market rally.
Bitcoin’s rise above $97,000 added supportive market conditions. Another post from Trader Tardigrade stated Dogecoin formed a bull flag on the weekly chart, with a target near $0.195. Crypto Tony separately identified $0.154 as a key reclaim level, while SoSoValue data showed Dogecoin ETFs recorded zero flows on January 14 despite recent price strength.
Dogecoin trades near $0.14 while holding a key buy order block between $0.128 and $0.135. Resistance remains near $0.15–$0.152 as analysts track a possible inverse head and shoulders pattern. Whale accumulation and broader market strength keep attention on a potential breakout.
