Dogecoin is again testing the $0.10 level after at least three prior instances barely surpassed it, and Elon Musk's return to the crypto conversation is drawing fresh attention to the token. The coin trades at $0.098 after touching $0.10 early Saturday, while on-chain data shows the average trader active over the past year is still underwater.
Musk resurfaces on the crypto timeline
According to U.Today, Elon Musk returned to the crypto timeline this week after reacting to an archived screenshot of his profile from the NFT boom with "lol". The crypto community also picked up on a recent post of his carrying the DOGE tag, with some reading it as a nod to Dogecoin, though the connection remains unconfirmed.
Price battles the $0.10 ceiling
Dogecoin reached $0.102 on September 21 before touching $0.106 and $0.104 on the following two days, then pulling back. Bulls tried again toward the weekend, and the rally stalled at $0.10 on both Friday and Saturday — a level that also capped an August 22 rally.
With multiple failed breakout attempts at $0.10, that level now stands as a short-term barrier, and a decisive move past it is crucial for Dogecoin's next major push.
Breakout targets and support levels
A confirmed break above $0.10 would open the way to $0.11 and $0.14, ahead of the $0.18 and $0.2 levels. Traders are watching whether Dogecoin can turn its daily 200-day moving average into support. That average has capped Dogecoin's price since October 2025. Failure would instead point to the daily 50-day average at $0.083 as the next floor.
Meanwhile, Dogecoin's 365-day MVRV sits at -19.26%, meaning the average trader active over the past year is still facing losses. The downside risk looks limited, though, and traders could bounce back if demand stays strong.
Source: U.Today
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