Long-term Dogecoin holders are seeing diminishing unrealized profits or even slipping into losses, indicating growing uncertainty among investors.
The recent downturn in Dogecoin has weakened investors' confidence in meme coins, and the upcoming week will be crucial in determining its recovery prospects.
Dogecoin is currently trading at $0.21 after a sharp 19% drop, with ongoing selling pressure in the broader market.
To initiate a recovery rally, DOGE needs to reclaim the key resistance level of $0.24, while traders should closely watch for a potential reversal in price action.