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Long-Term Dogecoin Holders Are In “Denial” – On-Chain Metrics Expose Weakness

  • 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.

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