Dogecoin acaba de atingir um raro sinal de capitulação: o que isso significa para DOGE

Dogecoin has entered a deeply depressed on-chain valuation zone, according to analysis from Aphractal AI, with DOGE trading far below its realized price and several holder-profitability metrics pointing to capitulation. The signal matters because it suggests the market has already absorbed substantial pain, even as price momentum and derivatives positioning remain fragile. The analysis places DOGE at $0.08475, with a market capitalization of $13.36 billion and a circulating supply of 154.58 billion coins. Its realized price, however, stands much higher at $0.12845, meaning Dogecoin is trading roughly 34% below the aggregate cost basis implied by on-chain activity. That gap is the core of the current setup. Dogecoin Is Trading At Deep Value Aphractal AI highlighted MVRV at 0.6730, showing that Dogecoin’s market value is about 32.7% below realized value. NUPL, another measure of aggregate unrealized profit and loss, sits at -0.4859 and is classified as “Capitulation.” “This is the clearest on-chain signal in DOGE right now: the average holder is underwater,” the analysis said. “Price remains $0.04370 below realized price, which places the asset in a depressed valuation regime. MVRV below 1 and negative NUPL together point to a market where holders are still carrying substantial unrealized losses, not one showing euphoric excess.” That does not mean DOGE has confirmed a bottom. The same report shows a long-term delta growth rate of -77.79%, which Aphractal AI interpreted as evidence of a severe slowdown in valuation expansion compared with previous periods. In its framing, Dogecoin remains in a “post-distribution / low-growth phase” rather than a renewed structural bull phase. Network activity gives a more mixed picture. Active addresses rose to 37,510, up 13.71% over 24 hours and 2.43% over seven days. Transaction count reached 23,665, up 3.88% on the day but still down 3.97% over the week. Adjusted on-chain volume was stronger, climbing to $185.55 million, up 69.69% day-over-day and 29.23% over seven days. The divergence is notable. Capital is moving faster than raw transaction count, suggesting larger transfers are driving the increase rather than a broad expansion in everyday network usage. In Aphractal AI’s words, Dogecoin is showing “better value flow than user-flow.” Exchange balances offer a modestly constructive signal. Dogecoin exchange reserves stand at 28.33 billion DOGE, worth about $2.42 billion. Reserves fell 0.20% over one day and 0.60% over seven days. The decline is not large enough to imply aggressive accumulation, but it does suggest exchange supply is drifting lower rather than building into immediate sell pressure. Still, the market structure remains weak. DOGE is down 4.59% over seven days, 21.99% over 30 days, 31.69% year-to-date and 58.01% over one year. It also trades 23.09% below its 200-day moving average. RSI is near oversold at 33.9982, while the daily MACD remains bearish. Derivatives positioning adds another caution f