Although Dogecoin had started off 2026 on a very positive note amid the broad crypto market resurgence witnessed during the period, it has begun to flash signs of a deep correction phase, which has stirred concerns among investors.
On Thursday, January 8, renowned crypto analyst Ali Martinez shared charts that suggest that the leading meme asset may only be a little push away from falling as low as adding a zero to its price.
While Dogecoin appears to be facing one of its major critical moments amid the broad crypto market slump, its on-chain movements are flashing warnings that the next major support zone sits very low, around $0.073.
Dogecoin risks losing $0.1
According to the UTXO Realized Price Distribution data shared by the analyst, Dogecoin has joined the market on its bear run, and its price has retraced back to the $0.14 level, with notable price decreases over the last day.
While the asset’s current price level still appears decent, the data revealed that this price level is currently in a thin liquidity zone, with very little on-chain support beneath it.
Although it further revealed that there is a wide gap between its next support level, the data shows that the next major accumulation area sits all the way down at $0.073.
Simply put, the pattern projected by the leading meme token means that most holders accumulated DOGE around the $0.14–$0.18 level, marking a zone where huge volume is concentrated.
Moreover, there is no major support below that zone to help retain the asset’s price around $0.1. If it fails to hold momentum above the aforementioned zone, Dogecoin could face a sharp and fast drop to around $0.073, which marks the next support zone where massive historical demand is situated.
While the crypto market has suspended its recent rally and is currently facing its first major bloodbath in 2026, the correction phase has continued to persist, putting DOGE’s ability to hold momentum above $0.12 at risk.
As such, the analyst predicted that Dogecoin is currently hanging by a thread and may be close to facing its biggest plunge in 2026, which could see it add another zero.