Dogecoin Nears Breakdown Zone; On-Chain Signals Fight Back — What’s Next For Price
Dogecoin price is near a breakdown zone, but cooling selling pressure and long-term holder accumulation suggest potential stabilization.Summary
Dogecoin's price is under pressure, trading near the lower boundary of a bearish pattern, with key support at $0.124-$0.120. However, on-chain data suggests the downside risk might be mitigated. Speculative supply, held by short-term holders (1-week to 1-month cohort), has sharply decreased from 7.73% to 2.76% of the total supply, reducing immediate panic selling. Concurrently, long-term holders (1-year to 2-year cohort) have slightly increased their share, indicating fading downside risk perception. Furthermore, network activity, measured by spent coins, has dropped significantly (over 60%), which historically precedes short-term rallies. The immediate future hinges on the $0.120 support level; holding it could lead to stabilization or recovery above $0.133, while a decisive close below exposes Dogecoin to further declines toward $0.112.
(Source：BeInCrypto)