Dogecoin is drawing renewed social buzz — but on-chain indicators paint a cautious picture. Analytics firm Santiment flagged Dogecoin among the top assets driving social engagement recently, alongside Bitcoin, Ethereum and Zcash. The memecoin’s mentions spiked on Reddit tied to sweepstakes offering DOGE prizes and debates over its meme status, while activity on X (formerly Twitter) tracked market moves and price chatter. On-chain data show mixed signals. Mean Coin Age has risen over the past two months, indicating accumulation in holder addresses even as price action stayed bearish. Meanwhile, the Age Consumed metric — which jumps when older, long-dormant tokens move — has been quiet since mid-November, reinforcing the idea that large-scale selling from long-term holders hasn’t re-emerged. That accumulation hasn’t erased losses. MVRV hit a six-month low in mid-December and has barely recovered, with holders averaging roughly 36% unrealized losses over the past six months. Santiment’s Net Unrealized Profit/Loss (NUPL) metric also points to a capitulation phase for DOGE, suggesting the memecoin could still have deeper downside if a pattern like the 2021–2022 downtrend repeats. Price action offers a narrow silver lining. DOGE has traded in a short-term range between $0.122 and $0.133 on the daily chart, and the past ten days’ consolidation looks constructive. A decisive move above the local high at $0.135 would mark a bullish structure shift. Still, analysts warn that even a break above $0.135 may not alter the broader bearish bias given the NUPL’s message and prevailing market fear — and that traders might treat any rallies as opportunities to reduce exposure. Sources: Santiment, Glassnode, TradingView. Disclaimer: This article is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making decisions. © 2025 AMBCrypto. Read more AI-generated news on: undefined/news