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EN
Dogecoin faces supply overhang as persistent selling pressure weighs on price
['Akashnath S', 'Written By', 'Reviewed By', 'Benjamin Njiri', 'Gladys Makena', 'Muriuki Lazaro', 'Ishika Kumari', 'Kelvin Murithi']
AMBCrypto
Dogecoin [DOGE] is down 1.2% in the past 24 hours, with a daily trading volume decline of 10.3%.
A rare Dogecoin buy signal has not yet resulted in bullish price moves.
The bulls were so weak, and selling pressure was sustained so much that a short squeeze toward $0.080 has not yet come about either.
The DOGE UTXO Realized Price Distribution [URPD] identified $0.081 as a key overhead resistance zone.
As things stand, the charts leave room for a retest of the $0.057 support if current selling pressure persists.