Over the past 5 weeks, DOGE has been declining, and the surge in May (+58%) has been completely reversed, even directly falling below May's low on June 20.

To be honest, this market movement is indeed a bit nerve-wracking, but don’t rush into 'all panic no hodl'.

🐶 Is DOGE still strong? AMBCrypto: This might just be the beginning
Although the recent performance has been disappointing, AMBCrypto reports that the rise in April-May might just be a prelude to a major rebound, like drawing a bow to gather strength 💥.

Moreover, in the past two weeks, DOGE has seen negative net inflows on exchanges—this typically indicates that funds are quietly accumulating, with coins being moved off exchanges, not for selling but for hoarding.

🔥 DOGE's 'burn days' spiked twice, but don't panic!
On June 14 and 17, the 'Coin Days Destroyed (CDD)' metric in Glassnode data suddenly surged, indicating that some old coins started to move, possibly signaling small-scale sell-offs.

However, this current rise has not yet formed a sustained trend, unlike the previous 'surrender-style exit' or 'high-point sell-off tide'.

📌 In other words, there is selling pressure, but we are not yet at the pace of a complete collapse.

📊 The CBD heatmap tells us: these price levels are critical!
According to Glassnode's cost basis distribution (CBD) heatmap:


In the $0.182 - $0.211 range, there are three super 'supply bands' 🚧. These price levels previously prevented DOGE from continuing to drop, and many people bought in at these points.

But here's the problem—now that the price has broken these support zones, when it rebounds, many people may take this opportunity to exit, leading to greater upward pressure on DOGE, making any rise possibly bumpy.

📉 Will history repeat itself? Will the 8-9 month pattern come back again?
In August-September 2024, DOGE fell below a critical demand zone, but then slowly climbed back a few months later.
Combining the recent outflow trend from exchanges, we may see a similar slow rebound.

✅ To summarize: Don't panic, but also don't blindly go all in!
Currently, DOGE is in a critical consolidation phase, on-chain data shows signs of accumulation, but some old coins are also moving. If you are a long-term holder, it might be worth waiting a bit longer;

If you are a short-term player, it is advisable to pay attention to the performance of those key price levels 👀.

Regardless, what’s most important now is:
Patience + Emotional management + Risk control first! 🧠💼

DYOR, manage your risks well, and I hope everyone can set sail in the crypto world! 🌊

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