As of early November 2025, Dogecoin (DOGE) is navigating a critical technical juncture, finding tentative support at the $0.16 level after a wave of profit-taking from large holders stifled its recent breakout attempt.
Whale Activity and Market Pressure
The recent price pullback to the $0.16 range has been significantly influenced by concentrated selling from large wallet holders, often referred to as “whales.” Data from late October into early November shows a consistent pattern of distribution.
In a telling 72-hour period, mid-tier whales holding between 10 million and 100 million DOGE offloaded approximately 440 million tokens. This behavior represents a sharp shift from accumulation to liquidation, marking the largest drawdown in nearly a month for the “Hodler Net Position Change” metric. This sustained selling pressure from large investors has been a primary driver of the current downturn, creating headwinds for any price recovery.
Technical Structure and Key Price Levels
From a technical perspective, Dogecoin’s chart structure has turned bearish in the short to medium term. The defining feature is a death cross pattern, which occurred when the 50-day moving average crossed below the 200-day average, a signal many traders interpret as a confirmation of a bearish trend.
Following this pattern, the price has been trading below its key moving averages, which now act as layers of resistance. The most immediate resistance zone is located between $0.1665 and $0.1670; a breakout above this level with conviction is needed to signal potential for a move toward $0.17–$0.175. To truly invalidate the current bearish setup, a sustained reclaim of the $0.18–$0.185 zone would be necessary.
On the downside, the $0.1620 level is the immediate and critical support to watch. A decisive break below this support could trigger a steeper decline toward the next significant liquidity pocket near $0.14, with some analyses suggesting a risk of an extended fall toward $0.10 if broader market conditions worsen.
A Trader’s Outlook
For market participants, the current environment demands caution. The confluence of whale distribution and bearish technical signals limits the potential for a sustained rally in the immediate future.
Traders should monitor the $0.1620 support closely. A successful defense of this level could provide a base for consolidation, while a breakdown would signal that further losses are likely. For any bullish reversal to gain credibility, a daily close above $0.1670 is the first hurdle, with a more definitive signal being a sustained move above $0.18.
Given the high volatility and volume spikes, risk management is paramount. The market’s next major move will likely depend on whether whale selling subsides, allowing for a period of accumulation, or if the technical breakdown prompts another leg down.
