Dogecoin (DOGE) finds itself in a technically precarious position in late November 2025, having accelerated its decline through key support levels in a market dominated by selling pressure and shaken confidence. The breach of multiple supports confirms a sustained bearish dynamic that is testing the resolve of even patient investors.
A Technical Landscape in Decline
The technical structure for DOGE has significantly deteriorated. The asset has not only breached its crucial support at $0.18 but has continued to slide downward, with its price touching approximately $0.136. This breakdown was a decisive event, marked by a surge in trading volume that was 183% above the 24-hour average, indicating a forceful institutional sell-off rather than just retail panic.
This collapse has been exacerbated by the formation of a “death cross” on the charts, a technical event that occurs when a shorter-term moving average crosses below a longer-term one, reinforcing the prevailing downtrend and underscoring the market’s selling bias. The price is now trading below all its major daily Exponential Moving Averages (EMAs), which are themselves pointing downward, a clear signature of a mature downtrend. For any hope of a trend reversal, DOGE first needs to reclaim the $0.17 to $0.18 zone, where it currently faces a cluster of technical resistance.
The Weight of Whale Movements and Weak Flows
The pressure on DOGE is not just technical; it is fundamentally driven by capital flight, particularly from its largest holders. Recent on-chain data reveals that whales have been actively liquidating their positions. In one notable instance, wallets holding between 10 million and 100 million DOGE collectively sold off 4.4 billion tokens within a 72-hour window. Another analysis pointed to whale disposals exceeding 1 billion DOGE, with hundreds of millions of dollars worth of tokens being moved to exchanges like Binance, likely for sale.
This exodus of “patient capital” is reflected in weak spot market flows, which have shown persistent net outflows. The derivatives market tells a similar story, with declining open interest and trading volume suggesting traders are quietly closing positions rather than opening new speculative ones. This collective action creates a powerful headwind, as the selling from large entities overwhelms potential buying from smaller investors.
Navigating the Path Ahead
For traders and investors, the immediate future hinges on a few critical levels. The last meaningful support zone lies between approximately $0.145 and $0.155, an area that has historically sparked rebounds and is currently being tested . A sustained break below this barrier, particularly a daily close under $0.152, could open the door to a deeper slide toward $0.12. Some analysts warn that in a worst-case scenario, a full structural breakdown could even see prices test the $0.07 region.
Conversely, for the bulls to regain any semblance of control, they must engineer a recovery that pushes DOGE back above the $0.159-$0.160 level. This would signal a neutralization of the immediate downward pressure and potentially set the stage for a test of higher resistance around $0.163 and then $0.170.
Ultimately, Dogecoin’s fate is tied to broader market sentiment, which remains mired in “Extreme Fear”. Until there is a shift in this macro mood or a decisive reversal in on-chain accumulation patterns, the path of least resistance appears to be downward. The coming days will be critical in determining whether current support levels can hold or if the market must brace for a further search for a solid bottom.
