Dogecoin price under pressure amid miner sell-off
Analysts still see DOGE rebound potential
Dogecoin is facing renewed downward pressure due to a large-scale sell-off, raising concerns among investors and potentially signaling declining confidence in market stability.
The meme coin is currently hovering around the $0.17 mark, and analysts warn that a drop below $0.15 could occur if selling pressure continues. This could increase volatility and trigger further corrections, according to Cryptopolitan.
Key takeways
Dogecoin came under pressure after miners dumped 65 million tokens within 48 hours.
The token price is fluctuating around $0.17, with a potential dip below $0.15 if pressure persists.
The situation is worsened by Bitcoin’s decline, inflationary concerns, and regulatory uncertainty.
Despite the bearish outlook, analysts predict a potential DOGE recovery if macroeconomic conditions improve.
According to crypto analyst Ali Martinez, miners offloaded 65 million DOGE in just 48 hours. The volume of liquidated tokens indicates that miners are reacting not only to market volatility but also to declining incentives such as reduced block rewards and rising operational costs driven by electricity prices.
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Macroeconomic and market factors
In addition to internal issues, the situation is also influenced by broader macroeconomic conditions. With Bitcoin falling below $85,000 and inflation fears intensifying, altcoins like DOGE are facing increased volatility. Historically, Bitcoin price drops amplify fluctuations across the entire crypto market, with meme tokens suffering the most.
Analysts highlight several causes behind the current sell-off. In addition to market instability, tighter monetary policies by central banks have increased risk aversion among investors. Regulatory uncertainty in the U.S. and Europe is also dampening retail sentiment, making digital assets less attractive in the short term.
Analyst forecasts and potential trend reversal
Despite bearish signals, some experts remain optimistic. Trader Tardigrade believes Dogecoin may be on the verge of a rally. “A HUGE Dogecoin surge is coming,” he wrote, citing historical patterns where growth often follows a correction. Analyst ByllifyX also predicts DOGE could rise to $3 if buyer demand strengthens.
Social signals, whale activity, and political influence
Additional factors include social and political developments. Elon Musk’s recent comments about the Department of Government Efficiency (DOGE) on The Joe Rogan Experience sparked renewed retail interest.
Previously, Donald Trump’s announcement of a digital asset reserve initiative caused DOGE to jump 20% to $0.24, despite not being part of the proposed reserve.
Currently, DOGE is trading at $0.1752, up 0.4% in the last 24 hours, with a trading volume of $695.6 million.
DOGE price movement. Source: CoinGecko
While short-term turbulence may persist, some analysts believe Dogecoin still has long-term potential if macro trends shift and investor confidence rebounds.
It’s worth noting that in January 2025, Bitwise Asset Management, a well-known crypto investment firm managing over $10 billion in assets, filed documents to establish a statutory trust in Delaware for a Dogecoin exchange-traded fund (ETF).
