Dogecoin’s Price Range of $0.11–$0.12 Presents Major Risk/Reward, Analyst States

Crypto analyst Matt Hughes, known as “The Great Mattsby,” emphasized the potential of Dogecoin within the price range of $0.11 to $0.12, describing this area as presenting an “incredible” risk/reward opportunity in a post on X (formerly Twitter) dated December 30. He backed his assessment with a weekly DOGE/USDT chart, highlighting that the support level is clearly established. However, another trader countered this view, suggesting that traders might be “better off picking a good chart,” sparking a debate over whether DOGE represents a quality investment or simply an affordable option.

Key Takeaways

Analyst Matt Hughes sees the $0.11–$0.12 range for Dogecoin as an excellent risk/reward opportunity.
The chart shows this zone is historically significant, acting as a reliable support level.
Price movements above $0.11–$0.12 could lead to resistance levels near $0.23, $0.35, and $0.46.
Criticism of this setup highlights that other assets may provide better momentum opportunities.
Broader market sentiment trends may affect Dogecoin’s future price movements.

Dogecoin Near $0.11–$0.12 Offers 'Incredible Risk/Reward,' Says Analyst

Ideal Risk/Reward Zone for Dogecoin

Hughes’ analysis positions the $0.11–$0.12 range as a significant historical reference point on a weekly chart. Currently, DOGE is priced at approximately $0.1236, just above an orange horizontal line set slightly over $0.10. This horizontal band is the focal point Hughes refers to, marking a level where the price has consistently recovered before—especially during the prolonged dip in 2022–2023. This makes it a clear reference point for traders seeking a nearby exit strategy if the price fails to hold.

Dogecoin chart analysis | Source: X @matthughes13

In addition, Hughes incorporates a linear-scale Gann Square featuring multiple upward-sloping guides. The most relevant line is a green diagonal support line, which has remained intact since the early stages of the chart and extends into 2026. Currently, the price consolidation aligns with this rising support level, coinciding tightly with the $0.11–$0.12 horizontal zone. This combination creates a scenario where a horizontal demand zone intersects with a long-term support trendline, offering a precise “risk” reference should this level fail.

“The risk/reward in the $0.11–$0.12 zone for $DOGE is incredible here,” Hughes remarked. “You can clearly visualize support with this linear scale Gann Square below.”

Above the current price, a light-blue horizontal line around $0.23 serves as the next identifiable resistance level, where DOGE has historically traded during past recoveries. Furthermore, Hughes’ chart also highlights additional resistance levels around $0.35 (marked in green) and approximately $0.46 (indicated in teal), with a significant resistance line near $0.58–$0.60.

If the $0.11–$0.12 zone holds, the chart suggests that there is potential for the market to revisit these upper resistance levels. Conversely, if this zone fails to hold, the market could be forced to test lower rising diagonals in the $0.05–$0.07 range, marking a more substantial correction within the multi-year price structure.

On a broader scale, Hughes noted, “Crypto in 2026: The Bull Run That’ll Crush Fiat Dreams! While governments print money like confetti and banks hoard your wealth, #Bitcoin hits $500K, #Ethereum transforms entire industries, Solana excels in speed, $XRP revolutionizes global finance overnight, and $DOGE skyrockets as memes become money. Skeptics? Remember, you called it a scam in 2021 when you bought at the peak. It's time to wake up or be left behind.”

However, trader Cheds Trading (@BigCheds) critically assessed Hughes’ trade suggestion, stating, “You’re probably better off choosing a solid chart rather than investing in a poor one.” Hughes acknowledged this critique, agreeing that while there could be better momentum opportunities elsewhere, he prefers the defined risk associated with the levels he has focused on: “Yes, you could ride momentum more effectively that way, but I like the risk/reward setup for DOGE in this zone.”

Hughes’ analysis also coincides with conversations about market rotations. He referenced @MerlijnTrader, who suggested that altcoin rallies often emerge when market positioning is cautious and conviction is low. Merlijn stated, “Look at the Wall Street cheat sheet. We are in a depression, right? Track emotions related to price, and it indicates maximum opportunity right now,” in a recent video. “You just have to choose the right coins.”

Merlijn linked these rotations to Bitcoin’s next move, emphasizing that early shifts can often feel uncomfortable. “Once Bitcoin stabilizes, all bottom indicators suggest it’s weak, so investors bought into Bitcoin while becoming emotionally detached from other assets,” he explained. “That’s how these rotations are quietly born, often before conviction returns.”

For Dogecoin, Hughes’ analysis boils down to one fundamental question: will the $0.11–$0.12 support area hold on the weekly chart, or will the market compel traders to reassess their risk further down the price structure?

At the time of writing, DOGE was trading at $0.1232.

Dogecoin price chart DOGE confirms the red zone as major resistance, 1-week chart | Source: DOGEUSDT on TradingView.com