Find Dogecoin’s Next Resistance Level: Latest On-Chain Data Analysis!
Jakarta, Pintu News – Recent on-chain data suggests that Dogecoin may face challenges at certain price levels. This analysis is based on the investor base cost distribution which shows where the coin was last purchased. By understanding investor psychology and their reactions to price changes, it is possible to predict where Dogecoin (DOGE) will find strong support or resistance.
Dogecoin URPD Analysis
URPD, or UTXO Realized Price Distribution, is an on-chain indicator that gives an idea of the last purchase price of the asset’s supply. For Dogecoin (DOGE), analyst Ali Martinez points out that there are several significant price levels. The $0.36 level stands out as the point where approximately 3.8% of the total Dogecoin (DOGE) supply was last purchased.
This level is important because it shows potential resistance if the Dogecoin (DOGE) price tries to rise. Conversely, the $0.21 level, where 7.5% of the supply was purchased, could be a strong support. This shows that investors’ reaction to prices approaching their base cost can greatly influence market dynamics.
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Investor Psychology and Its Effects
An understanding of investor psychology is essential in crypto market analysis. Investors tend to react differently depending on whether they are experiencing losses or gains. If the price is close to or past the base cost of the purchase, those with losses may choose to sell, while those with profits could see it as an opportunity to buy more.
This reaction creates what is referred to as a “wall of supply,” where certain levels can become very resistant or supportive depending on the behavior of the crowd. For Dogecoin (DOGE), this means that the $0.36 and $0.21 levels are key to predicting the next price movement.
Current Dogecoin Price Movement
At the time of writing, the Dogecoin (DOGE) price is hovering around $0.237, showing a rise of over 37% in the last seven days. This information suggests that there is growing interest in Dogecoin (DOGE), but also highlights the importance of monitoring the resistance and support levels identified through URPD analysis.
These price movements can be early indicators of larger trends or just short-term fluctuations. However, by understanding where large investors last bought, analysts and traders can be better prepared for possible market reactions.
Conclusion
Analyzing Dogecoin (DOGE) on-chain data provides valuable insight into where the price might find resistance or support. By monitoring these levels and understanding investor reactions, market participants can make more informed and timely decisions.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Dogecoin Resistance: On-Chain Data Points This. Accessed on May 15, 2025
- Featured Image: Forkast News
