DOGE Faces Potential Further Decline as Key Support Levels Break

Dogecoin (DOGE) is currently at risk of additional losses after failing to recover above critical resistance levels. The cryptocurrency has broken below several support zones, including $0.1650, $0.1550, and $0.150, and is now trading under the 100-hourly simple moving average. With a bearish trend line forming and nearly half of its supply in loss, DOGE’s outlook remains uncertain unless it can reclaim key levels.

Dogecoin (DOGE) at Risk of More Losses

Dogecoin started a fresh decline from the $0.1720 zone against the US Dollar. It failed to recover above $0.1550 and dipped below the $0.1650, $0.1550, and $0.150 support levels. The price is currently trading below the $0.1600 level and the 100-hourly simple moving average. A connecting bearish trend line is forming with resistance at $0.160. Further losses could be extended if the $0.1380 support zone is broken.

Dogecoin Supply In Loss Hits Almost 50%: How Bitcoin and XRP Compare

On-chain data reveals that Dogecoin has seen almost a majority of its supply dip into loss. Glassnode, an on-chain analytics firm, shared an update on the Supply in Profit for different top coins. The Supply in Profit indicator tracks the percentage of an asset’s circulating supply that is currently sitting on a net unrealized profit. Dogecoin, along with other major coins, has seen a decline in profitability.

Dogecoin Price Prediction: DOGE Bottom Is $0.10 as Mutuum Finance (MUTM) Races Past 8,100 Holders

Dogecoin (DOGE), the meme coin, has crashed more than 50% from its peak in November 2024. Trading volume has declined from $60 billion to less than $5 billion a day. Analysts predict further dips, with $0.10 identified as a key support level. Meanwhile, Mutuum Finance (MUTM) is breaking records with 8,100 holders and $6.5 million in its presale. MUTM is currently priced at $0.025 per token and is expected to increase by 20% soon.