Dogecoin is currently at a rare historical discount level, with the "Profit Days" indicator reaching a new high of 1100 days, indicating that a large number of holders are in a loss. An analysis of net position changes shows that over the past year, long-term investors have continued to buy, especially during the rally at the end of 2024 and when the price dropped from $0.35 to $0.092. Although the MVRV indicator shows that Dogecoin is severely discounted at present, historical trends suggest it may take up to two years of decline to return to the $0.140 support level.