Despite high hopes for Dogecoin's growth in 2025, the cryptocurrency's price has struggled to see significant upward progress. Analysts are examining the factors, preventing it from breaking key resistance levels.
Resistance at Key Levels
Dogecoin's price faces resistance at $0.18 and $0.21 levels, considered pivotal for further growth. Despite attempts to exceed these levels, the cryptocurrency has failed to sustain above them. Trader Tardigrade suggests that breaching these resistance levels could trigger a significant bull run.
UTXO Price Distribution
The distribution of Dogecoin's price also plays a role in hindering growth. The UTXO Realized Price Distribution chart shows a significant portion of Dogecoin's supply concentrated at $0.07394252, indicating strong investor interest. The next key resistance is at $0.20008666, where potential selling pressure may arise.
Dogecoin's Bearish Start to the Year
Dogecoin's first quarter in 2025 has seen a 46% drop, marking its most bearish start in seven years. Although it posted gains of 147% in 2024, it has begun this year amidst losses. Analysts foresee possible continued downturn, though historical trends suggest potential recovery later in the year.
Although Dogecoin shows bearish trends at the start of 2025, some analysts predict it might see significant improvement in the latter half, following historical patterns.
