Crypto analyst Ali Martinez (@ali_charts) recently shared a new UTXO Realized Price Distribution (URPD) chart on X that provides an in-depth look at where substantial portions of Dogecoin (DOGE) have changed hands. This histogram uncovers distinct clusters of on-chain activity, highlighting the price levels that could shape the meme coin’s next significant movement.
In his analysis, Martinez has identified $0.177 as a strong support level and $0.207 as notable resistance, indicating that Dogecoin is effectively constrained between these two critical price barriers. While these two levels are of immediate relevance for trading decisions, the chart also unveils other significant price points that deserve further attention.
What This Means For Dogecoin Traders
The analysis reveals a large URPD cluster around $0.177, which represents approximately 8.01% of DOGE’s total supply—or about 11.89 billion tokens. This concentration signifies a high volume of coins that were last transacted in this price range. Given the extensive presence of DOGE holders with cost bases around this level, analysts generally view $0.177 as a critical support zone where buyers might enter to defend their positions.
Another important cluster appears near $0.2069, accounting for about 7.04% of the total supply (around 10.45 billion tokens). Martinez categorizes this as key resistance, reflecting a significant group of holders who acquired DOGE at or near this price point. As the market approaches $0.207, some traders might aim to break even or secure small profits, potentially unleashing selling pressure.
A particularly remarkable observation is the significant spike at $0.06653, where an estimated 30 billion tokens were transacted. This peak dwarfs many of the smaller clusters illustrated in the chart, confirming that a substantial volume of DOGE was exchanged at this historical price. Although the current market price is significantly above this level, $0.06653 could become crucial if a larger market correction occurs. This level depicts a considerable cost basis for numerous holders and could establish a strong support area if Dogecoin experiences a deeper downturn below $0.177.
Chart analysis also highlights notable price concentrations above the current trading range. Approximately $0.2753 has seen just below 5 billion tokens exchanged, and at $0.3622, a similar volume changed hands. These significant bars may serve as vital resistance points if Dogecoin can surpass the shorter-term resistance at $0.207.
Should DOGE sustain gains above $0.207, traders might anticipate momentum that could drive the token toward $0.2753, where fresh resistance could emerge. If bullish sentiment continues to thrive, the area around $0.3622 may become the next pivotal price level to monitor.
At the time of this analysis, DOGE was trading at approximately $0.196.
