Dogecoin's Dominance: Can DOGE Maintain Its Lead?
Key Takeaways
Dogecoin showed strong bullish momentum, breaking past the $0.2 resistance. However, on-chain data indicates distribution and profitable holders since May.
Dogecoin [DOGE] leads the memecoin pack with a market capitalization of $35.8 billion. Shiba Inu [SHIB] follows, but with a significantly smaller $8.67 billion market cap.
In the past week, DOGE surged by 22%, outperforming Shiba Inu (12.5%) and Pepe [PEPE] (8.7%). While Bonk [BONK] showed stronger gains, Dogecoin remains the dominant memecoin.
Will this rally continue, or are there warning signs ahead?
Accumulation or Warning Signs for Dogecoin?
On-chain metrics reveal that Dogecoin holders have been increasingly profitable since May. Consequently, older tokens are showing more movement.
This is supported by the declining mean coin age and MVRV metrics over the last two months.
The MVRV indicates that holders over the past 180 days are, on average, 15% in profit, driving profit-taking and reducing mean coin age.
Monthly position changes for long-term investors have been positive for most of 2025. Although this accumulation has slowed recently, it remains a bullish signal.
Dogecoin's 1-day price chart confirms a bullish structure. Daily trading volumes have been consistently above average for the past ten days.
Increased volume helped DOGE reclaim the $0.196 mid-range level as support and target the $0.25 range high. After peaking at $0.257, the price retraced slightly by 6.66% to $0.24.
The RSI indicates strong bullish momentum, while the CMF shows reduced capital inflows over the last 24 hours.
For continued bullish momentum, Dogecoin needs to flip the $0.25 range high into support, which would signal a potential breakout and offer a buying opportunity.
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