[Digital Today intern reporter Seung-a Yoo] Dogecoin is testing the $0.10 level again. Recent moves by Elon Musk, seen as a leading supporter of Dogecoin, are also drawing attention in the cryptocurrency market.

On Sept. 27 (local time), blockchain media outlet U.Today reported that Dogecoin traded around $0.098 and earlier rose to as high as $0.10 intraday. It has tried several times in recent days to break above $0.10 but has not managed to settle at that level.

Musk drew attention again this week after reacting "lol" to a post sharing an old screen of his profile from the non-fungible token (NFT) boom. Interest also focused on his posts tagged with DOGE. Some cryptocurrency communities interpreted the post as related to Dogecoin and took it as a signal that Musk still has interest in Dogecoin.

Dogecoin has also repeatedly tried to break above $0.10 recently. It rose to $0.102 on Sept. 21, then posted $0.106 and $0.104 on Sept. 22 and Sept. 23, respectively, before giving up gains. Its rise also stalled at $0.10 on Friday ahead of the weekend, and the same pattern repeated on Saturday.

Despite repeated attempts, Dogecoin has not yet succeeded in firmly moving above $0.10. Its advance also stopped at $0.10 on Aug. 22, and the level is analysed as having become an important short-term resistance line. A clear break above $0.10 is important for the next major price move.

If Dogecoin breaks above $0.10, the next target prices are suggested at $0.11 and $0.14. After that, $0.18 and $0.20 are also mentioned as additional target zones.

On the other hand, attention is also needed on whether daily 200-day moving average turns into support. That moving average has capped Dogecoin's price rise since October 2025. If Dogecoin fails to turn it into support, the next support is suggested around $0.083, the daily 50-day moving average.

On-chain indicators have also shown a signal that Dogecoin's price has room for additional recovery. Dogecoin's 365-day MVRV is at minus 19.26 percent, staying in negative territory. That means the current value of Dogecoin moved over the past year is below the average realised value, indicating that the average holder of coins bought in that period is in a loss zone.

The fact that MVRV remains negative despite a price rebound shows that market participants who entered Dogecoin in the past year still have losses. If demand remains strong, analysis suggests there is room for those losses to recover.

Ultimately, whether Dogecoin breaks above $0.10 is cited as the key variable in its short-term trend. After that, whether it can turn the 200-day moving average into support is expected to determine whether it can sustain additional gains.

Elon Musk just made another Dogecoin post. He’s still here. pic.twitter.com/QnRXwBdkqj