Crypto analyst Matt Hughes, known as “The Great Mattsby,” described the $0.11–$0.12 price zone as an “incredible” risk/reward opportunity for Dogecoin in a December 30 post on X. He shared a weekly DOGE/USDT chart to illustrate what he sees as clearly defined support.
Another trader, Cheds Trading, countered that traders might be “better off picking a good chart,” sparking a brief debate over whether DOGE represents a high-quality setup or is merely inexpensive.
The Proposed Risk/Reward Zone
Hughes’ chart presents the $0.11–$0.12 area as a multi-year “line in the sand” on a weekly timeframe. The price was around $0.1236, just above an orange horizontal band drawn slightly above $0.10. This horizontal zone has served as a price base multiple times before, most notably during the prolonged 2022–2023 market trough, making it a clear potential invalidation point for traders.
The chart also includes a linear-scale Gann Square with several rising diagonal lines. A key green, upward-sloping support line runs from the chart’s early history into 2026. The current price pullback is nearing this rising support line at approximately the same point it intersects the $0.11–$0.12 horizontal zone.
In essence, Hughes highlights a confluence of factors: a horizontal demand zone meeting a long-term uptrend line, which could offer a relatively tight stop-loss level if the support fails.
“Risk/reward in the .11-.12 zone for $DOGE is incredible here,” Hughes wrote. “You can visualize support perfectly with this linear scale Gann Square below.”
Above the current price, the next marked level is a light-blue horizontal line around $0.23, an area where DOGE has previously consolidated during rebounds. Higher overhead levels are marked around $0.35 (green) and roughly $0.46 (teal), with a thick line near $0.58–$0.60.
If the $0.11–$0.12 support holds, the chart suggests room for the price to move toward these higher levels. If it breaks, the next visible support on the chart consists of lower rising diagonals in the $0.05–$0.07 range, which would indicate a much deeper correction within the same multi-year structure.
Broader Market Context and Pushback
Hughes expressed a bullish macro outlook for crypto, predicting a major bull run by 2026. However, trader Cheds Trading challenged the DOGE trade premise directly: “Prob better off picking a good chart than throwing money at a bad one.”
Hughes acknowledged that momentum might be easier to find elsewhere but reiterated his view on the defined risk at his highlighted levels: “Yea you can ride the momentum better that way but I like the risk/reward in this zone for DOGE.”
His post coincided with broader discussions about market rotation. Hughes approvingly cited analyst @MerlijnTrader, who echoed a sentiment-based thesis that altcoin turns often begin when market positioning is defensive and conviction is low.
“Look at the wall street cheat sheet, man. We are in depression, right? Trot maps, emotion to price and it’s screaming maximum opportunity right now,” Merlijn said in a video. “Just got to pick the right coins.”
Merlijn linked any potential rotation to Bitcoin’s next decisive price move, noting how early shifts often feel uncomfortable. “Once Bitcoin resolves now, all stone bottom one, Bitcoin is weak, right? So they bought them on Bitcoin and sta…“People are emotionally exhausted and have given up on everything else,” he said. “That’s how market rotations begin—quietly and uncomfortably, before confidence comes back.” For Dogecoin, Hughes’ analysis narrows the broader debate down to one key question: will the $0.11–$0.12 support zone hold on the weekly chart, or will the market push traders to reevaluate risk at lower levels? At the time of writing, DOGE is trading at $0.1232.
Frequently Asked Questions
Dogecoin FAQs The 011012 RiskReward Opportunity
Beginner Questions
What is Dogecoin
Dogecoin is a cryptocurrency that started as a meme in 2013 based on the popular Doge internet meme It has since evolved into a widely recognized digital currency with an active community
What does riskreward opportunity mean
Its an assessment of an investment Risk is the potential for loss while reward is the potential for gain An incredible riskreward means an analyst believes the potential upside from the current price is significantly greater than the potential downside
Why is the price between 011 and 012 considered special
An analyst has identified this price range as a key level where historically or technically the chance for a significant price increase may outweigh the risk of a further drop making it an attractive entry point for some investors
Is Dogecoin a good investment
Cryptocurrency is highly volatile and speculative While some analysts see opportunity Dogecoins price is influenced by social media trends celebrity endorsements and broader crypto market sentiment not just fundamentals You should only invest money you are prepared to lose
How do I even buy Dogecoin
You can buy DOGE on most major cryptocurrency exchanges Youll need to create an account verify your identity deposit funds and then place an order to buy
Intermediate Strategy Questions
What factors could make Dogecoins price go up from here
Potential catalysts include renewed hype on social media integration into more payment systems a general bull run in the broader cryptocurrency market or new developments on the Dogecoin network
What are the main risks if I buy at 011012
The price could fall further Risks include the broader crypto market entering a bear phase loss of social media interest selling pressure from large holders or competition from other cryptocurrencies
What does technical analysis say about this price level
Analysts might view 011012 as a support levela historical