The recent surge in Dogecoin has revived enthusiasm throughout the community, with assets rising by 36% in just one week.

But beneath the surface, key indicators suggest that the upward trend may be unstable—especially as long-term holders begin to take profits.
On-chain data shows a spike in "spent age" — a metric used to track the movement of inactive tokens. This spike indicates that long-term holders — often considered stabilizing forces in the market — are liquidating a significant portion of their assets. This is the most aggressive sell-off from this group since mid-2023.
Although the short-term dynamics still paint an encouraging picture, the technical signals are becoming contradictory. The Ichimoku Cloud – a tool used to assess market trends – indicates that Dogecoin is trading above the support zones.
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However, prolonged sell-offs from long-term portfolios could undermine this strength and trigger a reversal of the trend.
At the time of writing this article, DOGE is trading at around $0.244, but analysts are watching $0.220 as a key level. A break below this could send the coin down to $0.198, which would erase a large portion of the recent gains.
With the quiet withdrawal of major players and the cautious macroeconomic climate, the next move of Dogecoin will likely depend on whether buyers can withstand the pressure or succumb to it.