DOGE Price Prediction: On-chain Data Reveals Three Key Resistance Levels for DOGE

Famous analyst Ali Martinez (@ali_martinez) released his latest views on the X platform, analyzing based on on-chain data metric URPD, pointing out that DOGE (DOGE) is currently facing three potential resistance price levels that need special attention. These price levels correspond to significant supply walls on the DOGE supply distribution chart (UTXO Realized Price Distribution).

What is the URPD on-chain indicator?

URPD is a core metric provided by on-chain analysis company Glassnode. It clearly shows the proportion of the token supply of the last purchase at different price levels in the history of DOGE transactions. This helps to identify potential support and resistance areas.

Current DOGE URPD Key Data Analysis

The chart shared by Martinez reveals the following key information:

Core resistance level $0.18:

• Above the current spot price **.
• 8.94% of the DOGE circulating supply was last bought at this price level.
• Due to the current price being below this level, this group of holders is generally in a loss position.
• Resistance Formation Logic: When the coin price rises from below to the cost price (break-even point) of these significant loss holders, it often triggers selling pressure. Holders tend to sell when they break even, fearing that the price will fall again. Given that the supply at $0.18 is substantial, it forms a strong resistance barrier.

Secondary resistance level $0.21：

• Corresponding to the 7.24% of DOGE circulation last purchase cost zone.
• Similarly, it is a potential supply wall, constituting upward resistance.

High resistance level $0.36 (≈¥2.61):

• Corresponding to the 3.82% of DOGE circulating supply last purchase cost zone.
• Key Takeaway: It is noteworthy that between $0.21 and $0.36, URPD shows a lack of significant supply walls. This means that once DOGE successfully breaks through the $0.21 resistance, theoretically, the selling pressure it might encounter while rising to $0.36 is relatively small, and the upward resistance is weakened.

Potential Support Level Analysis

If DOGE encounters resistance at a key resistance level (such as $0.18) and falls back, it may seek support at the profit supply zone below. Profit holders may view a pullback to their cost price as a buying opportunity, thereby increasing purchasing power.

Strong support level $0.07:

• Below the current spot price **.
• 20.03% of the massive DOGE circulation was last bought at this price level.
• Due to its large supply proportion, $0.07 constitutes an extremely important on-chain support area.