The post Dogecoin Bulls Eye Potential Support at $0.14 Amid Ongoing Market Weakness appeared on BitcoinEthereumNews.com.

As Dogecoin approaches critical support levels, bulls face significant challenges in reversing the ongoing bearish trend in the memecoin market. The persistent decline of Dogecoin, alongside other memecoins, indicates a market struggling under the weight of excessive supply and lack of fundamental backing. According to recent data from Santiment, the percentage of Dogecoin supply in profit has dropped dramatically, highlighting the concerns of current investors. Exploring the latest bear trends in Dogecoin as it hovers near $0.14, this article examines key market metrics and investor strategies for 2025. Dogecoin’s Persistent Bear Market and Investor Sentiment The memecoin market, particularly Dogecoin (DOGE), has faced an unrelenting decline since late December, with prices now threatening to fall below critical levels. Recent trading data suggests that DOGE is precariously close to its November lows, currently struggling around the $0.14 mark. Market conditions remain challenging for Dogecoin fans, as the influx of new memecoins has diluted market interest and capital. Investor sentiment reflects this ongoing struggle, with many looking anxiously at price movements and clinging to hope for a reversal. Technical analysis shows that Dogecoin has formed a series of lower highs and lower lows in recent months. The downward trajectory raises questions about the potential for a breakout, as investors weigh their options amid a lack of bullish signals. Market Dynamics: Understanding Supply and Demand for Dogecoin In assessing whether now is a favorable time to buy Dogecoin, it’s essential to analyze market dynamics. Recent reports indicate that the supply of DOGE held by significant wallets is shrinking, with the 100k-1M DOGE cohort trending downward alongside a slight rebound for smaller holders. This juxtaposition hints at a potential accumulation phase among smaller investors, while larger holders seem to be distributing their assets. Investors should also note that Dogecoin remains an inflationary asset, meaning…

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Filed under: News - @ March 30, 2025 5:11 am