Dogecoin selling pressure keeps price under strain
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- Dogecoin (CRYPTO:DOGE) remains under pressure as selling continues to outweigh buying.
- Analysts said weak demand and rising supply have limited the token's recent price gains.
- Technical indicators suggest Dogecoin could stay under pressure unless buying activity improves.
Dogecoin (CRYPTO:DOGE) remained under pressure as persistent selling continued to weigh on its price.
Analysts said rising supply and weak buying demand have made it harder for Dogecoin to recover.
Recent on-chain data showed more Dogecoin moving onto exchanges, which can signal higher selling activity.
Technical indicators suggested Dogecoin could face further weakness unless buyers return to the market.
Broader crypto market sentiment has also limited demand for meme coins in recent trading sessions.
Analysts said stronger buying volume would be needed before Dogecoin can build a sustained recovery.
At the time of reporting, Dogecoin price was $0.07024.
