Journalist
Posted:
- DOGE broke below the key support without clear demand zone in sight.
- Will the bulls intensify or is a deeper correction imminent?
DOGECOIN (DOGE) Pluite below a key support level on the 1D graphic, after a drop of 50% compared to its peak in the fourth quarter, $ 0.20 emerging now as the third crucial floor this year.
Meanwhile, assessments in the same sector have plunged $ 15 billion in a week, losing $ 8 billion alone. Doge’s ability to maintain this level faces a serious test.
To start: slow down network growth
The DOGE network is contracting quickly, with a new creation of addresses collapse From 1.29 million to $ 0.38 in November at only 31K at the time of the press – a drop of 97%.
As Hodlers discharge And the fresh entrances remain low, the imbalance of the supply of the request requires Doge to lower stockings.
Source: tradingView (Doge / USDT)
Unless the activity of the network sees a significant rebound, the long -term trajectory of Dogecoin remains down.
The chances of recovering your post-electoral peak of $ 0.48 seem to be distant, while the long-awaited lens of $ 1 remains very elusive.
But the big question is – DOGE FLIP $ $ 0.20 in support?
In the middle of the broader collapse of the market, Dogecoin erased 18% of its weekly gains, liquidation $ 7.64 million in long positions in the last 24 hours.
Network data reveal that Doge Holdings in chip wallets from 1m to 10 my diving with a hollow of six months, allowing more than 460 million parts.
Meanwhile, a major whale wallet in the 100m to 1b range has unloaded an astonishing doge from the post-electoral rally, amplifying the sale pressure.
Source: Santiment
In the short term, a rebound at $ 0.25 – its previous resistance – remains uncertain in a low accumulation and unfavorable macro -conditions.
Should external opposite winds worsen and Bitcoin (BTC) Lower below its support at $ 84,000, Dogecoin could face major challenges to defend its price of $ 0.20.