Build with CoinStats’ all-in-one API. Learn more

Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerCryptocurrenciesPricingCrypto APIMCPIntegrationsNewsRWA MarketEarnBlogNFTWidgetsDeFi Portfolio TrackerDerivativesETF FlowsCrypto Gaming24h ReportPress KitAPI Docs

Dogecoin Price Prediction: 28 Billion DOGE Make $0.098 the Level That Decides

25m ago•
bullish:

0

bearish:

0

Dogecoin trades at around $0.0973 on Wednesday midday, just below the zone where the price has been cutting its teeth for days. That zone sits at $0.098, and it is not a line drawn on a chart but an accumulation of purchases: roughly 28 billion DOGE changed hands there in the past. Anyone who bought in that area and has been underwater since tends to sell as soon as they are back at breakeven. That is exactly what makes the level hard.

For you as an investor in Europe the question of whether $0.098 falls this week matters less. More important is how you are positioned when it falls or when it holds. The answer hangs on three things that have nothing to do with the chart: on your buying route, on the question of spot or leverage, and on the tax authority's one-year period. This article walks through the situation in order and names the figures it rests on.

Dogecoin sits just below the supply zone at $0.098 at the end of the month

Two data sources show a similar picture with slightly diverging values. CoinGecko reports $0.0973 on Wednesday midday, up roughly 1.4 percent within 24 hours, at a market capitalisation of a good $15.1 billion. CoinGlass names $0.09726 at the same time and just under one percent of daily gain. The gap of about three ten-thousandths of a dollar between the two sources arises from differently weighted trading venues and is immaterial for your assessment; what counts is that both sources see the price below $0.098.

Across the whole of September there is a gain of roughly 13 percent. That sounds like a good month, and measured against the starting point it is one. The catch lies in the shape of that gain: the rise came early in the month, the past two weeks ran sideways. A market that runs sideways after a rise and hangs on the same level while doing so accumulates positions betting on the breakout. Those positions are the real risk factor of the coming days, and that is covered in detail further down.

If you want to know how the situation fits into longer periods, the continuously maintained price levels and scenarios are on our page for the Dogecoin price prediction.

Supply zone explained: 28 billion DOGE changed hands at $0.098

A supply zone is a price area in which an above-average number of units of a cryptocurrency were bought. It can be derived from the blockchain: every DOGE unit carries the information about the market price at which it was last moved. Where those prices cluster in a narrow band, a cluster of cost bases forms. With Dogecoin such a cluster covers roughly 28 billion DOGE at $0.098, that is about 19 percent of the circulating supply of just under 150 billion units.

The mechanics behind it are simpler than the term sounds. An investor who bought at $0.098 and then watched the price fall to $0.085 has carried a paper loss. As the price approaches their entry again, the position goes from a loss to a wash. Many sell at precisely that point, because the waiting ends without them having lost money. This selling interest meets every new buyer and slows the price until the supply has been worked through.

From that follows a sober expectation: a breakout above $0.098 rarely succeeds on the first attempt and almost never without elevated trading volume. If it succeeds with volume, the zone's role reverses; it turns from resistance into support, because the old buyers are out and the new ones defend their entry. Without volume a breakout stays a flash in the pan, which often throws the price back lower than where it stood before.

The leverage market is six times the size of the spot market

Here the situation with Dogecoin turns uncomfortable, regardless of which way the price goes next. CoinGlass reports spot trading volume of roughly $233.6 million over 24 hours. Over the same period, Dogecoin futures worth about $1.48 billion were traded. That is a good six times as much. The price you see on an exchange therefore arises largely from bets on the price and only in smaller part from actual purchases and sales of the coins.

An industrial steel press descending from above onto a stacked tower of metal coins
In the leverage market it is not your view of the price that decides, but the liquidation price of your position.

Perpetual futures, often called perps, are futures contracts without an expiry date. Instead of a settlement day there is the funding rate: a payment that flows at short intervals between buyers and sellers and ties the contract price to the spot price. If more investors are positioned for rising prices, they pay the other side, and vice versa. If the funding rate is clearly positive over a longer stretch, a long position costs money merely by being held, regardless of where the price goes.

Open leveraged positions of $1.50 billion and the cascade

Open interest, that is the sum of all open leveraged positions, stands at roughly $1.50 billion. That figure is in itself neither good nor bad. It gains meaning only in relation to the market: $1.50 billion in open contracts stands against a market capitalisation of a good $15.1 billion. For every tenth dollar of market value there is one dollar of leverage money.

Why that counts is shown by how a liquidation cascade unfolds. If the price falls below the liquidation price of many leveraged long positions, the exchange closes those positions automatically by selling. Those forced sales push the price further, reach the next tier of liquidation prices and trigger the same process there. Over the past 24 hours, positions worth roughly $4.5 million were force-liquidated on Dogecoin according to CoinGlass data, a quiet figure for the size of the market. Quiet here means pent up: the positions are open, not unwound.

The liquidation price is not a number the exchange shows you as a courtesy but one that can be calculated. At five times leverage it sits roughly 20 percent below the entry, at ten times leverage around 10 percent, in each case before fees and funding. The exact formula with a worked example is in our piece on calculating the liquidation price. Anyone holding a position should know that number before the market shows it to them.

Whales are long three to one: the account data from Binance, Bybit and OKX

A second data point sharpens the picture. CoinGlass records for large accounts, so-called whales, the ratio of long to short positions. On Binance and on Bybit there are currently about three whale accounts holding a long position for every one holding a short. On OKX the figure is around 1.65, so also on the long side but markedly less one-sided.

Such numbers are readily read as endorsement: the big players are betting on rising prices, so the direction is right. That reading falls short. One-sided positioning is first of all a statement about risk, not about the future. When three out of four large accounts stand on the same side, a setback leaves hardly any counterparties who would have to close their short positions and therefore buy. The market then falls faster and deeper than the news flow would explain.

On top of that, position data from individual exchanges shows only a slice. Anyone holding a long position in one place while having sold coins elsewhere appears in this statistic as an optimist, although on balance they stand neutral. Treat the figure, then, as an indication of the market's fragility and not as a price target.

ETF inflows in September and the Bitwise date on October 14

Among the American Dogecoin funds a movement emerged in September that serves European investors mainly as a sentiment gauge. The products together took in roughly $3.71 million in September. Grayscale's GDOG fund has net assets of about $14.11 million on cumulative inflows of roughly $16.34 million, and thereby concentrates the greater part of the category in itself.

At the same time a date sits in the calendar. Bitwise is winding up its Dogecoin fund BWOW. The last trading day is October 14; on that day the Dogecoin held will be exchanged into dollars. The cash payout to shareholders is scheduled for October 22. As the reason, the firm cited low demand when it announced the move in September; the fund had been in the market since its launch in November 2025.

What does that mean for you? The absolute amount is small. Roughly $14 million in fund assets is a rounding error measured against $15.1 billion of market capitalisation, and the sale of the BWOW holdings will barely move the price. The signal value is the actual point: a provider withdraws after less than a year because demand was missing. If you want to use exchange-traded products from Europe, the routes tradable here are in our overview of crypto ETFs and ETPs in Germany.

Holding period under Section 23 of the Income Tax Act: spot and perpetual are two tax worlds

A glass hourglass with trickling sand beside a stack of coins, a file binder and a blank calendar page
The one-year period runs separately for each individual purchase, not for your portfolio as a whole.

At this point what looks identical on the chart parts ways in Germany. Buy Dogecoin in spot trading and hold the coins for longer than a year, and the gain on the sale is tax free as a private disposal transaction under Section 23 of the Income Tax Act. Sell within the year and the gain is taxable at your personal income tax rate, with an exemption threshold of €1,000 per calendar year applying to all private disposal transactions together. Exemption threshold means: one euro above it, and the entire amount is taxable.

A leveraged perpetual on Dogecoin does not fall under this rule. It is a forward transaction and therefore investment income under Section 20 of the Income Tax Act. There is no one-year period there and no route into tax exemption, but the flat withholding tax of 25 percent plus solidarity surcharge and, where applicable, church tax. The losses also live in a pot of their own: a loss from a forward transaction does not reduce the gain from a spot sale, because the two are different categories of income.

From that follows a consequence often overlooked in practice. Hedge an existing spot position with a perpetual and you shift the result of that hedge into a different tax pot. If the hedge moves into profit, it is taxed, even when the hedged holding is long past the one-year period. Anyone holding several purchases made at different times also needs a clean allocation on the first-in, first-out principle. Which tools document that is set out in our comparison of crypto tax tools and portfolio trackers.

Leverage in Europe: 1:2 on CFDs, a multiple of that outside EU investor protection

For retail investors in the EU, leverage on cryptocurrencies in contracts for difference is capped at 1:2. That cap goes back to a product intervention measure by the European securities supervisor, adopted nationally, and alongside the leverage limit it also includes protection against obligations to pay in more. An account with a provider supervised in the EU therefore cannot run you into the negative.

The perpetual futures that make up the open interest described above are traded predominantly at venues outside this framework, frequently at ten to fifty times the stake. Trade there and you give up European investor protection: no leverage cap, no deposit guarantee, no German place of jurisdiction in a dispute. That is a permissible decision, but it should be a deliberate one. An overview of the venues for perpetual futures with their fees and funding models is in our perp DEX comparison.

The buying route under MiCA: the exchange's domicile decides your rights

Since the European regulation on markets in crypto-assets became fully applicable, providers addressing customers in the EU need authorisation as a crypto-asset service provider. In Germany, BaFin holds supervision. For you as a buyer this is not a formality but the difference between a provider that has to hold client funds separately and process complaints, and one where in an emergency you turn to an address in another legal jurisdiction.

A practical pointer: reputable providers name their authorisation and the competent authority in their imprint or legal notices. Where that reference is missing, or points to a company outside the EU while the interface advertises in a European language, caution is warranted. Which venues meet these requirements and how fees, spreads and withdrawal routes differ is shown by our overview of the best crypto exchanges.

Custody: Dogecoin on the exchange, in a software wallet or on hardware

After the purchase, Dogecoin initially sits in the exchange's account. Legally you then hold a claim against the company and not the coins themselves. For an amount you intend to trade over the coming weeks, that is a defensible state. For a holding you want to keep past the one-year period, it is an unnecessary counterparty risk, because the period precisely requires you to do nothing for twelve months.

Dogecoin uses its own blockchain and is mined jointly with Litecoin, a procedure called merged mining. In practice that means you need a wallet that supports the Dogecoin chain, and not an address from the Ethereum world. A transfer to the wrong chain is as a rule lost. Before your first withdrawal, check that the destination address begins with the format usual for Dogecoin, and test with a small amount before the whole holding goes.

On custody itself, nothing different applies with Dogecoin than with larger cryptocurrencies: the recovery phrase is the holding. Photograph it or file it in a cloud notebook and you have given it away. A slip of paper in a safe or a metal plate costs little and survives water and fire, while a screenshot on the phone is read along by any malicious code.

The levels above and below, each with its reason

To the upside $0.098 is the first hurdle, and for the reason described above it is a real one: the supply of roughly 28 billion DOGE waits there. A daily close above it, carried by trading volume well above the $233 million recently usual in the spot market, would be the first solid sign that this supply has been worked through. If that succeeds, the round level of $0.10 sits immediately above and works psychologically as the next station.

To the downside the area around $0.094 is the nearer orientation, because the price turned there several times in recent days. Below that the air thins quickly, because between $0.094 and $0.085 a comparable cluster of cost bases that could brake is missing. In precisely that area lie, moreover, the liquidation prices of part of the leveraged long positions, which is why a slide down there can run faster than the news flow suggests.

Both scenarios are probabilities and not promises. Anyone deriving a decision from them should tie it to a number they set beforehand, and not to the feeling in the moment of the move. That is the least spectacular and at the same time most effective form of risk management a private investor has.

Dogecoin price prediction: How to proceed now

  1. Settle your buying route before you think about levels. Check in your venue's imprint whether an authorisation as a crypto-asset service provider and a competent supervisory authority are named. If both are missing, change route. An overview sorted by fees, withdrawal routes and supervision is in the comparison of the best crypto exchanges.
  2. Keep holding and wager cleanly apart. What is meant to sit for longer than a year belongs in your own custody and stays untouched, so that the period under Section 23 of the Income Tax Act runs through. What runs on leverage gets a noted liquidation price and a cap on the stake in advance. The venues for perpetual futures with their funding models are in the perp DEX comparison.
  3. Set up the documentation while the year is still running. Record date, quantity and price for every purchase, so that the first-in, first-out allocation later succeeds without reconstruction and forward transactions are kept separate from the spot holding. Which programmes pull this automatically from the exchange data is shown by the comparison of crypto tax tools.

(As of September 30, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)

25m ago•
bullish:

0

bearish:

0

Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.