Dogecoin is confronting a dense supply overhang at the $0.21 neighborhood, where on-chain data show a striking concentration of realized cost. Market analyst Ali Martinez (@ali_charts) highlighted a Glassnode cost-basis distribution heatmap showing a heavy band at that level<\/p>\n
\u201c10.50 billion $DOGE were accumulated at $0.21. That\u2019s a big resistance zone forming. Keep this level on your radar!\u201d he wrote<\/a>. The underlying tooltip on Ali\u2019s chart (timestamped Oct. 19, 2025, UTC) pinpoints a Cost Basis Range: $0.21062334\u2013$0.21144839 with Supply: 10,575,420,761.332544 DOGE clustered there. At $0.21, that cohort represents roughly $2.22 billion in supply.<\/p>\n The technical context around that same band adds weight to the on-chain reading. In a separate TradingView chart shared Oct. 20, Ali noted that Dogecoin \u201cjust bounced off the channel support and looks set to climb. Eyes on $0.29 first, then $0.45 and $0.86.\u201d<\/p>\n Related Reading: Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021<\/a><\/p>\n His channel overlay tracks price respecting an ascending structure across multiple tests since 2023, with intermediate waypoints aligning closely to classical retracement and extension levels<\/a>. Notably, the $0.21 area intersects the 0.618 retracement at ~$0.21205 on his plot\u2014an overlap of technical and realized-price resistance that helps explain the current stall and the importance of clearing this shelf with convincing volume.<\/p>\n A separate on-chain lens from Cryptollica (@Cryptollica) focuses on holder concentration dynamics. Sharing a long-horizon chart<\/a> titled \u201cPercent of Supply Held by Top 1% Addresses,\u201d the analyst observed, \u201cThe supply held %1 data downward trend has not yet been seen as the price moves toward a new all-time high. To the moon > Target: $1.30.\u201d<\/p>\n The graphic shows the top-1% cohort maintaining an elevated\u2014and recently rising\u2014share of supply as price has recovered from the cycle lows. While such concentration is often interpreted as a proxy for large-holder conviction<\/a> or tighter float, it can simultaneously amplify directional moves when those balances rotate; for now, the absence of a downtrend in the metric suggests no broad distribution from the largest addresses has materialized.<\/p>\n Read together, the three signals sketch a coherent near-term battleground. First, the cost-basis heatmap identifies a thick realized-supply node precisely where spot is grappling\u2014$0.21\u2014implying latent sell pressure from holders looking to exit at break-even and equally strong validation if price can flip the level into support.<\/p>\nDOGE Whales Continue To Accumulate<\/h2>\n