Dogecoin News Today: Dogecoin's Unsteady Rebound Depends on Holding $0.15 Support as Derivatives Show Conflicting Signals

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Bitget-RWA2025/11/24 23:44

By:Bitget-RWA

- Dogecoin (DOGE) drops 37% to $0.1587 amid crypto market weakness and Fed policy uncertainty. - Technical indicators show bearish control with RSI at 34 and MACD in negative crossover. - Derivatives markets show mixed signals: $1.66B open interest but declining MFI indicates outflows. - Grayscale's GDOG ETF fails to reverse selling pressure as $0.1500 support becomes critical for recovery.

Dogecoin (DOGE) is under increasing downward pressure as bearish trends strengthen throughout the crypto market, with the

meme

coin

hovering around $0.1587

on Wednesday, representing a 37% drop from its spike during the October 10 flash crash. This drop highlights the prevailing uncertainty ahead of the Federal Reserve’s December policy decision and

the absence of new drivers

to spark renewed optimism. Although the derivatives market has steadied, technical signals indicate

a precarious recovery outlook

for the asset, which holds a $24 billion market capitalization.

The daily chart’s Relative Strength Index (RSI) stands at 34, pointing to dominant bearish sentiment, while

the Moving Average Convergence Divergence (MACD)

continues to show a bearish crossover.

Dogecoin

has also

slipped beneath significant moving averages

—$0.1893 (50-day EMA), $0.2024 (100-day EMA), and $0.2090 (200-day EMA)—further eroding its technical stance.

A drop below

the immediate $0.1500 support could send the price down to $0.1424, a level last seen in June.

Activity in the derivatives market presents a mixed picture.

Open Interest (OI)

DOGE

futures has climbed to $1.66 billion, recovering after falling to $1.37 billion following the flash crash. This indicates

a resurgence of investor engagement

, though the OI-Weighted Funding Rate recently shifted positive at 0.0076%, suggesting cautious accumulation of long positions.

The Money Flow Index (MFI)

remains under a declining trendline, pointing to continued capital outflows.

Recent news, such as

the launch of Grayscale’s GDOG ETF

, has not been enough to offset the selling trend. While the ETF is designed to attract institutional interest, DOGE is still facing resistance at $0.1495 and support at $0.144.

Experts observe

that a lasting rebound will rely on clearer signals from the Fed and a return of speculative trading.

Analysts emphasize

the significance of the $0.1500 mark, noting that holding above this level could enable a move back toward the $0.181 resistance area. At the same time,

Shiba Inu

(SHIB) and

Pepe

(PEPE) are following DOGE’s downward trend,

heightening risks across the sector

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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