Dogecoin Price Prediction: On-chain Data Suggests Reduced Selling Pressure, DOGE Price May Face a Directional Choice
Recently, the price of Dogecoin (DOGE) has been under continuous pressure. Data shows that DOGE has fallen about 2% in the past 24 hours, with a total decline of over 12% in the past month. Although the overall price structure still leans bearish, the downward momentum is slowing, and the market is approaching a critical decision point. In the next few trading days, it will be determined whether Dogecoin's price breaks below a key support level or stabilizes near the current position.
From a technical perspective, Dogecoin is currently operating along the lower boundary of a descending channel and has formed a typical bearish flag pattern. If the support in the $0.124–$0.120 range is broken, the price may further decline. However, on-chain data indicates that the so-called "breakdown zone" has not been fully confirmed, and short-term selling pressure is undergoing structural changes.
