Dogecoin remains steady around $0.097 despite slow momentum
February 20, 2026
Dogecoin (DOGE) is currently being put to the test as it hovers near a crucial support level around the $0.097 mark following a slow down in its breakout rally due to increased volatility in the broader market. Analysts are divided between a generally bullish outlook and concerns about what one observer described as a momentum that seems somewhat lacking in power.
The recent drop in DOGE saw it hit a low of $0.095 on Thursday before climbing back above $0.098. Over the past six days, the token has remained within a tight range of $0.096 to $0.104 after briefly spiking to a high of $0.117 over the weekend.
Initially, the breakout above a descending trendline that had lasted for about a month ignited feelings of optimism. However, this momentum has since been stifled by the increased market volatility, causing DOGE to trade sideways within its confined range.
Whale Factor, a market observer, highlighted that DOGE has returned to what he termed as “the ultimate support level” at $0.097, a level that has transitioned from being a resistance to a crucial support zone in the past two years. He maintained that a rebound could potentially reach the $0.15-$0.20 range if this level holds.
Another analyst, Trader Tardigrade, noted that the breakout and subsequent retest of the downtrend line demonstrate classic bullish price action. He further mentioned that the trendline has seen support in the form of five consecutive daily closes.
Despite acknowledging the positive aspects of the rally, Trader Tardigrade expressed concerns about the lack of strong support, stating that “Price has to attract real demand to make this breakout credible.” He described his sentiment as cautiously optimistic given the current weak upward momentum.
The ongoing consolidation phase of DOGE may hold more significance than it appears at first glance. Trader Tardigrade drew attention to a historical pattern where DOGE has previously completed what he terms as a “Solid Base structure” twice before in 2016 and 2020, preceding significant price surges.
Another analyst, Bitcoinsensus, supported this view by highlighting DOGE’s tendency to thrive in strong risk-on environments and break out after extended consolidation periods. Notably, DOGE saw a 95x gain between 2017 and 2018 following a previous breakout, followed by a remarkable 310x rally towards its all-time high after the breakout in 2020.
The current situation begs the question: can DOGE break through the bearish trend line that is impeding its path to $2,000? Only time will tell as market dynamics continue to shift around this popular meme coin.
