Summary
TLDR: Dogecoin saw a surge in holders and price in February, but the number of profitable holders and weak support zone could lead to a potential downturn. A bearish descent may be on the horizon unless the DOGE community manages to stave off the decline.
Key Points
1. Dogecoin reached a record 6.5M holders in February, showing a significant increase in holders over a short period of time.
2. The high number of profitable DOGE holders, currently at 84.75%, could potentially lead to selling pressure as holders may choose to capitalize on their gains.
3. The current market trend for DOGE is displaying bearish indicators, with the possibility of the price testing support levels at $0.15 and $0.12 if downward trajectory continues.