ambcrypto.com
18 October 2026 03:39, UTC
Dogecoin [$DOGE] fell by 2.6% in a day and was down 6.5% over the week. During this period, the memecoin sector collectively shrunk by 8.4% in market cap. In fact, the memecoin sector has underperformed Bitcoin [BTC] and Ethereum [ETH] by a significant margin this week.
Down 15% so far in October, and with uninspiring ETF flows, there didn’t seem to be much reason to expect a Dogecoin revival at press time.
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The 1-day timeframe’s swing structure was bullish and had already retraced to the 61.8% Fibonacci retracement level back in September. The memecoin pushed higher once again, but was unable to close a daily session above the $0.1008 high made in August.
The subsequent retracement back to $0.08, where the price was at the time of writing, may be a warning sign.
The A/D decline and the negative CMF readings confirmed selling pressure over the past two weeks. Combined with the failure to establish a bullish structure continuation, it could be a worry for the bulls.
Hence, the odds of a price decline, or a range formation from $0.08-$0.10, appeared greater than a bullish trend revival.
According to popular crypto analyst Ali Martinez, the UTXO Realized Price Distribution (URPD) data showed 36 billion Dogecoin tokens traded around the $0.081-level.
This made the local lows that much more important as a demand zone. There is no guarantee buyers will defend this level, however.
Other pieces of evidence the analyst presented were the 600 million $DOGE whales have bought since 12th October, and the cost basis distribution heatmap also highlighting $0.081 as the level to hold.
If defended, a bullish rebound could target $0.108-$0.121 next. Further north, the $0.16-$0.17 areas will be important long-term supply zones that could be difficult to clear due to profit-taking.
