Rich by Coin

Dogecoin remains under pressure as its broader chart structure remains bearish, with on-chain data suggesting the recent breakdown has not been fully confirmed. The token trades near the lower boundary of a declining pattern, often described as a bear flag, keeping downside risks active. A critical support zone between $0.124 and $0.120 failing could open the door to deeper declines; however, a rebound above $0.133 could ease selling pressure, and a move beyond $0.138 would signal buyers regaining control.

One of the most notable developments is the sharp reduction in speculative supply. Data from HODL Waves shows that the 1-week-to-1-month holder cohort, typically the most aggressive short-term traders, has significantly reduced exposure. This group controlled around 7.73% of the total Dogecoin supply in late November, but that figure has dropped to approximately 2.76% by late December. Such a rapid exit suggests that weak hands may have already sold, which can reduce forced selling near support levels.

At the same time, longer-term holders appear to be slowly accumulating DOGE. The 1-year-to-2-year holder cohort has increased its share of supply from roughly 21.84% to 22.34%. While the increase is modest, it is meaningful because long-term holders tend to add when they believe downside risk is diminishing rather than expanding.

Network activity data reinforces this view. Spent coin metrics show a sharp decline in DOGE movement, falling by more than 60% over the same period. Lower coin activity often indicates that fewer holders are rushing to sell. Historically, similar slowdowns in Dogecoin activity have preceded short-term relief rallies, including a recent move earlier this month that saw DOGE rally nearly 15% within days.

From a price perspective, the $0.120 level remains the most important support to watch. A daily close below it could open the door to a move toward $0.112 or lower. On the upside, reclaiming $0.133 would signal easing selling pressure, while a stronger push above $0.138 would suggest buyers are regaining control. For now, Dogecoin sits at a critical crossroads where on-chain signals hint at stabilization, but price action will ultimately decide the next move.