DOGE Price Slumps Amid Persistent Selling Pressure

Dogecoin (DOGE) has been facing persistent selling pressure in recent times, leading to concerns about its supply overhang. According to a report from BitRss, this has weighed heavily on the price of DOGE. As the cryptocurrency continues to struggle, investors are left wondering if it can recover.

The report notes that Dogecoin's market capitalization has been steadily declining since 2015, with some periods of brief respite. However, even during these short-lived rallies, the supply overhang remained a significant concern. This persistent selling pressure has led to a decline in price, making it increasingly difficult for investors to hold onto their DOGE.

While there is no clear indication that this trend will change anytime soon, some analysts believe that the market may eventually adjust to the supply imbalance. However, as of now, investors are advised to exercise caution when considering investments in Dogecoin.