After Dogecoin (DOGE) broke through the $0.2 resistance level, the trend looks strong, and the market structure is bullish, but on-chain data is interesting: since May, holders have generally been making profits, and older coins are starting to circulate.
Dogecoin is currently the king of meme coins, with a market cap of $35.8 billion, far ahead of the second-place Shiba Inu (SHIB) at $8.67 billion. This gap is quite exaggerated, and it’s truly a phenomenon in the crypto world that a meme coin promoted by the community can become so popular.
In the past week, Dogecoin has risen by 22%, outperforming Shiba Inu (12.5%) and Pepe (PEPE, 8.7%). Although it lags slightly behind Bonk (BONK), Dogecoin remains the top dog among meme coins. The question is, can this uptrend get even stronger?
Is holding coins still risky?
According to Santiment's data, the profits for holders have been increasing since May, and coins that have been held for a long time are starting to move. The average coin age and MVRV indicators have both been declining in the past two months, with MVRV indicating that holders have made an average profit of 15% over the past six months, prompting many to sell, resulting in a decrease in coin age. How are long-term players faring?
Glassnode's data shows that for most of 2025, long-term holders have been accumulating, but it has slowed down in the last month, which can explain the drop in coin age. However, holding coins long-term is still a good signal.
How will the price move?
The daily chart for DOGE/USDT shows a bullish trend, with trading volume significantly higher than usual over the past ten days. After stabilizing at $0.196, Dogecoin surged to $0.25, and trading volume followed suit. Recently, it tested a high of $0.257 but fell by 6.66%, returning to $0.24. The RSI indicates that bullish momentum is still present, but the CMF suggests that money inflow has decreased a bit in the past 24 hours.
What to do next?
In the coming days, keep an eye on $0.25 to see if it can become support. If it stabilizes, the probability of a breakthrough increases, which could be a good buying opportunity.
