TLDR
- Dogecoin (DOGE) currently has 77.9% of its total supply in profit according to on-chain data
- The cryptocurrency ranks fourth among major coins for profitable supply, behind Bitcoin (98.4%), XRP (90%), and Chainlink (80.5%)
- Technical analysis shows an inverse head and shoulders pattern forming on the 1-hour chart
- Short-term price targets include $0.239 and $0.25 if the bullish pattern completes
- DOGE is currently trading around $0.22 after a 6.11% decline over the past week
Dogecoin is showing mixed signals as on-chain data reveals strong profitability metrics while recent price action has formed a potentially bullish technical pattern. The meme cryptocurrency currently trades around $0.22 after declining 6.11% over the past seven days.
According to data from Santiment, approximately 77.9% of all Dogecoin supply is currently in profit. This metric examines the on-chain history of each token to determine if it was last moved at a price below the current market value.
💸 Percent of Total Supply in Profit is a straightforward metric that shows how much of a cryptocurrency’s current circulating supply is held at a profit—meaning the coins were bought at a lower price than they’re worth today. Currently, some notable top caps' supply in profit… pic.twitter.com/QU3sGrtV07
— Santiment (@santimentfeed) May 28, 2025
The analysis compares six major cryptocurrencies including Bitcoin, Ethereum, XRP, Cardano, and Chainlink. Bitcoin leads with 98.4% of its supply in profit, followed by XRP at over 90%.
Dogecoin ranks fourth in this comparison, ahead of Ethereum which shows 71.5% of supply in profit. Chainlink holds the third position with 80.5% of its supply showing unrealized gains.
The high percentage of profitable supply typically indicates increased selling pressure potential. Investors holding profits are more likely to take gains when market conditions allow.
Technical Pattern Emerges
Despite the recent price decline, crypto analyst Klejdi Cuni has identified an inverse head and shoulders pattern on the 1-hour chart. This formation consists of three troughs with the deepest one occurring on May 25th.
DOGE Poised To Resume The Bullish Trend – #DOGEUSDT @tradingview #bitcoin
Dogecoin is forming an inverse head and shoulders pattern, a classic signal of a possible trend reversal.In this case, it’s a short-term setup due to its smaller scale on the chart.
If the price breaks… pic.twitter.com/REI7F2WO3C
— KLEJDI CUNI (@TradingPuzzles) May 27, 2025
The pattern’s right shoulder formed between May 23rd and May 24th. Currently, Dogecoin is testing the neckline resistance around $0.228.
A breakout above this resistance level with volume confirmation could trigger upward movement. The first target sits at $0.239, which previously acted as support on May 22nd before breaking down.
Price Targets and Projections
If the technical pattern plays out successfully, the next target would be $0.25. This level represents a full recovery to Dogecoin’s most recent local peak in May.
The analyst notes this is a smaller-scale formation, making it more relevant for short-term traders seeking quick movements. The projected move follows a step-wise pattern with initial breakout action followed by consolidation.
However, failure to maintain the breakout zone or a breakdown below the right shoulder at approximately $0.222 would weaken the bullish outlook. Such a scenario could lead to a retest of the $0.21 level.
The current market structure shows Dogecoin has been moving sideways recently, with price action consolidating around the $0.22 mark. Trading volume and momentum will be key factors in determining whether the technical pattern can drive meaningful price movement.
At the time of analysis, Dogecoin was trading at $0.2245 with the cryptocurrency market showing mixed performance across major digital assets.
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