finbold.com
As Dogecoin ($DOGE) price fell by roughly 3.6% over the past 24 hours following the vote on the CLARITY Act – a bill in the United States Senate geared towards regulating the cryptocurrency industry- despite large whales, addresses with at least 100 million $DOGE, accumulating over 240 million coins in a week, crypto analyst Ali Martinez has set bold targets for this memecoin.
Martinez expects Dogecoin’s price to rally towards $0.1774 for as long as its support level around $0.0813 holds, according to an X post that Finbold analyzed on September 16.
Based on the UTXO Realized Price Distribution (URPD), an on-chain metric that shows the amount of a crypto that last moved within specific price ranges, hence revealing where investors acquired their coins, this crypto expert argued that $DOGE’s price has formed a strong on-chain support level around $0.0813, where 35 billion Dogecoins were previously traded.
“As long as this level holds, the bullish setup remains intact, with $0.1552 and $0.1774 as the next upside targets,” Martinez noted.
He further based his bullish thesis on this memecoin on rising demand from whale traders. Specifically, Dogecoin’s large whales accumulated 240 million $DOGE between September 9 and 14, thereby increasing their holdings to nearly 19 billion or approximately 12.18% of its total supply, according to data from Santiment.
Dogecoin price performance
Over the past 30 days, Dogecoin price has rallied 14.53%, trading at $0.08017 at the time of writing. During the last 24 hours, the memecoin’s market capitalization fell 4.66% to $13.56 billion while its 24-hour trading volume rose 47% to $998.8 million at the time of reporting.
As such, this crypto analyst believes that the ongoing $DOGE price correction, which began on August 22, 2026, to date, could be an opportunity for long-term investors.
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