Dogecoin Price Slides to $0.105 Support Amid Liquidations

Dogecoin price fell from $0.116–$0.117 on May 6 to near $0.105 by May 8 as high leverage long positions were liquidated, according to a liquidation heatmap shared by CW on X via CoinAnk. The move erased most of an earlier rally and pushed price into a dense liquidation zone, though the weekly chart still shows a rounded base near $0.10, keeping a broader breakout setup alive.

Short-Term Liquidation Pressure

The strongest liquidity cluster appeared near the $0.105 to $0.106 range, where many leveraged long positions likely sat before the drop. As DOGE moved lower, those positions faced forced liquidation, adding sell pressure to the market.

The chart also showed smaller liquidity zones above the current price, especially around $0.111, $0.114, and $0.117. These levels may act as resistance if DOGE rebounds, because traders who were trapped during the decline may exit near those zones.

DOGE had previously moved sideways between May 1 and May 4 before a sharp rally lifted price above $0.113. However, the move failed to hold. Sellers took control after May 6, and the decline accelerated once price broke below the $0.111 area.

A recovery above $0.108 could reduce immediate downside pressure. However, failure to hold the $0.105 area may expose DOGE to another liquidation-driven move lower.

Weekly Rounded Base Setup

Dogecoin traded near $0.107 on the weekly chart, while a DOGE setup shared by Moe on X showed price forming another rounded base near the $0.09 to $0.11 area. The chart compares DOGE’s current structure with several earlier weekly setups, each showing a rounded bottom followed by a break above a descending trendline. Those earlier moves led to strong upside continuation after buyers regained control.

The latest pattern shows DOGE moving under a falling resistance line after its decline from the 2025 highs. Price then based near the $0.09 area before starting to push back above the trendline. That makes the current zone important because DOGE is trying to confirm whether the rounded bottom is complete.

Moe’s chart marks a large upside path toward the $0.90 area. However, that target depends on DOGE holding the base and clearing nearby resistance levels first. The first key area sits around $0.125. DOGE needs to reclaim that level to show stronger weekly momentum. After that, the chart points to possible resistance around $0.17, $0.24, and $0.33, based on previous price reaction zones.

If DOGE fails to hold the $0.09 to $0.10 support area, the rounded base setup weakens. A breakdown below that zone would put sellers back in control and delay the bullish structure shown on the weekly chart.