DOGE faces profit pullback pressure! $0.22 is the dividing line between bulls and bears.

DOGE has risen over 16% in the past week, but recent trends have entered a Sideways consolidation. On-chain data shows that profit-taking pressure is increasing, and the support level of $0.22 may become a key dividing line in determining whether DOGE continues its pump or experiences a pullback.

84% address profit, profit-taking risk rises

(Source: Glassnode)

On-chain data shows that currently 84% of DOGE addresses are in profit, the same level as on July 27. At that time, the DOGE price quickly pulled back from $0.24 to $0.19 within a week.

Historical experience shows that when a large number of holders are in a profitable state, the market often sees some investors cashing out, increasing selling pressure.

Exchange inflow turns positive, selling willingness increases

(Source: Coinglass)

According to Coinglass data, the net spot flow of DOGE on exchanges has changed from -52 million USD on August 10 to +2.7 million USD on August 11.

This means that more DOGE is being transferred to exchanges, which is typically seen as a signal that holders are preparing to sell.

SOPR indicator suggests short-term cooling

(Source: Glassnode)

The spent output profit ratio (SOPR) measures the profit and loss status when tokens are sold.

SOPR > 1.0: Holders sell at a profit

On August 10, DOGE's SOPR rose to 1.045, close to the highs at the end of July, and then the indicator pulled back, suggesting that the market may enter a short-term cooling period.

This echoes the current selling pressure signals.

Technical Analysis: $0.22 is a key support level

(Source: Trading View)

On the 4-hour chart, the DOGE price hovers around $0.235, slightly below the descending trend line of the descending triangle pattern.

Support level: $0.22 (strong support verified multiple times)

Resistance level: $0.24–$0.246 (expected to challenge $0.25 after breakout)

Long and short scenario analysis:

Bullish scenario: If the price breaks above 0.246 USD, it will break the descending triangle resistance, opening up space for bulls to target above 0.25 USD.

Bearish scenario: If it falls below $0.22, it may trigger more selling, and the price could pull back to $0.20 or even lower.

Short-term outlook

Currently, DOGE is in a tug-of-war phase between bulls and bears:

Bullish factors: The overall sentiment in the cryptocurrency market is positive, and if macro data is favorable, DOGE is expected to break through the resistance level.

Bearish factors: High proportion of profitable addresses, increased inflow to exchanges, and high SOPR all indicate short-term pullback risks.

Investors should closely monitor the 0.22 USD support level, as this will be a key price point determining DOGE's next move.

Conclusion

The short-term trend of DOGE is facing a choice: if it holds above 0.22 USD and breaks through 0.246 USD, the pump is likely to continue; on the contrary, losing support will accelerate the pullback. Current on-chain and technical signals both indicate that the market may enter a short-term cooling period, and a cautious wait-and-see may be a more prudent strategy. For more real-time market updates and technical analysis, please follow the official Gate platform.