Dogecoin continues to struggle with significant selling pressure and bearish technical indicators, failing to capitalize on Bitcoin’s recent market rebound. The meme cryptocurrency remains trapped below the critical $0.20 resistance level, recently retreating to lows near $0.17.
Technical analysis shows concerning signals including a bearish TD Sequential indicator and weak Relative Strength Index (RSI). On-chain metrics further reveal a distribution phase, with newer investors liquidating positions as evidenced by declining mean coin age and spikes in dormant circulation.
The 180-day Market Value to Realized Value (MVRV) ratio remains negative, indicating undervaluation and low bullish conviction among holders. Macroeconomic factors including geopolitical tensions and broader financial uncertainties continue to suppress risk appetite for speculative assets like Dogecoin.
Despite isolated short-term buy signals emerging, the overall trend remains decisively bearish. Significant technical barriers and persistent selling pressure continue to obstruct any sustainable recovery for the popular meme cryptocurrency.