Dogecoin (DOGE) is showing resilience as it trades at $0.154, having gained 4.84% in recent trading. The cryptocurrency recently hit a low of $0.142, marking a significant demand zone established since November 2024. This zone has historically attracted buyers, resulting in notable price recoveries. If this trend continues, DOGE might aim for the 61.8% Fibonacci retracement level around $0.21.
The 30-day Market Value to Realized Value (MVRV) ratio indicates that most recent buyers are facing unrealized losses. This suggests potential buy interest as losses often lead holders to hold rather than sell, which could support a price rally. A bullish move aligns with the historical behavior seen in this range, especially if market sentiment shifts toward optimism.
If market conditions remain stable and buyer interest increases, targets could extend to $0.34. Traders should remain cautious, though, as failure to hold the $0.16 level could lead to downward movement towards $0.13, as suggested by technical analysis such as the indication of a symmetrical triangle that points to potential risks.
The 30-day Market Value to Realized Value (MVRV) ratio indicates that most recent buyers are facing unrealized losses. This suggests potential buy interest as losses often lead holders to hold rather than sell, which could support a price rally. A bullish move aligns with the historical behavior seen in this range, especially if market sentiment shifts toward optimism.
If market conditions remain stable and buyer interest increases, targets could extend to $0.34. Traders should remain cautious, though, as failure to hold the $0.16 level could lead to downward movement towards $0.13, as suggested by technical analysis such as the indication of a symmetrical triangle that points to potential risks.
