The performance of DOGE in the past 24 hours is quite interesting. The price has been oscillating within the range of $0.127-$0.129, down 2%-3% compared to yesterday. Trading volume has fluctuated between $850 million and $1.6 billion. Although the Christmas holiday is approaching and overall market risk appetite has cooled, DOGE remains firmly in the top ten by market capitalization, with circulating market value maintained around $21.5 billion.

The real signal comes from the futures market. According to data, open interest in DOGE futures has reached 11.797 billion coins (equivalent to about $1.5 billion), but there has been a clear pullback within 24 hours—indicating that the "holiday pump" momentum has temporarily fizzled out. Selling pressure is beginning to intensify, and the price has stubbornly broken below the short-term support level of $0.13. The surge in trading volume suggests sellers have regained control. In the short term, downside risks are significant, with some analysts pointing to a potential target of $0.12.

But there's also something interesting here. The number of active on-chain addresses has reached a nearly three-month high, exceeding 67,000. This hints that institutional players might be quietly accumulating at low levels.

From a technical perspective, there are more signs to watch: derivatives positioning signals suggest larger volatility may be brewing, and the RSI has entered the oversold zone, which often indicates a rebound opportunity. The community is also paying attention to related hot topics, although no new catalysts have emerged at the moment.

Overall, DOGE is currently under some pressure from the subdued macro holiday atmosphere. Monitoring the $0.128 support level is crucial. Looking ahead, the real turning point may depend on a change in the Federal Reserve's policy stance, with new developments possibly emerging by 2026.