- Dogecoin processed 41,132 transactions as daily activity remains stable.
- DOGE trades at $0.17115 with RSI hovering around the 43 level
Dogecoin recorded 41,132 transactions in the past 24 hours amid declining market conditions. The total network fees reached approximately $3,900 based on the current DOGE price. The price of Dogecoin continues to face pressure as it trades below key support as market indicators show weakening sentiment while DOGE forms a falling wedge pattern.
DOGE Records 41K Transactions Amid Lower Network Fees
According to data shared by crypto analyst Ali Martinez, Dogecoin processed around 41,132 transactions within 24 hours. The average fee per transaction was 0.534 DOGE, amounting to $3,902.90 at the time of the report. DOGE price stood at $0.19056644 on March 27, 2025.
Glassnode data shows Dogecoin’s transaction fees have declined sharply since peaking at $14,052.49 on January 19. On that date, DOGE traded at $0.3598. Since then, fees and prices have decreased due to reduced network demand. The network remains active, but the value per transaction has declined.
DOGE’s consistent transaction activity signals sustained usage despite the market correction. Ali noted that DOGE’s transaction count remained steady even as prices fell. The lowered average fee reflects fewer high-value transfers and less network congestion compared to early 2025.
Bearish Pressure Persists As DOGE Struggles Below $0.18
At press time , Dogecoin is trading at $0.17115 after gaining 0.99% in the past 24 hours. The price hit a session high of $0.17167 and a low of $0.16785. DOGE continues to face resistance at around $0.18, while immediate support is established at around the $0.15 level. The price action remains capped below a descending trendline, signaling continued weakness in the short term.
Source: Tradingview
The Relative Strength Index (RSI) is 43.18, reflecting bearish momentum. RSI hovers below the neutral 50 mark but above the oversold region, indicating slight relief from recent selling pressure. Price movement remains within a broader downward channel, and unless DOGE breaks above $0.18, bearish conditions are likely to persist.
Market Sentiment and Potential for Major Breakout
In an earlier analysis of CoinCryptoNews, analyst Ali Martinez suggested DOGE was testing key levels for a potential long-term move. A historical breakout from a similar pattern in January 2021 saw DOGE surge to its all-time high of $0.7316.
The current formation resembles that past setup, raising the possibility of a future breakout. Martinez noted that DOGE holding above $0.19 remains critical. A drop below this could push the price toward support between $0.07 and $0.09.The long-term outlook may shift if DOGE breaks above the wedge pattern with strong confirmation. However, current market sentiment remains weak. Bears continue to dominate the short-term trend as DOGE struggles below $0.18.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
