Dogecoin News Today: Dogecoin's Weak Hold at $0.18 Faces Bearish Pressure as Support Begins to Falter
Dogecoin (DOGE) has once again entered a key Wyckoff accumulation phase as the
The support area between $0.17 and $0.19 has historically cushioned declines, but this buffer is now weakening. Glassnode data points to a large cluster of DOGE bought at $0.177–$0.179, totaling 3.78 billion coins. However, investor sentiment has shifted sharply, with long-term wallets moving from net inflows to net outflows of –22 million DOGE in just 24 hours—a 367% reversal, as CoinDesk highlighted. This change may undermine the support zone, potentially pushing DOGE lower toward $0.14.
Technical signals continue to point to weakness. In late October, Dogecoin’s 50-day EMA fell below its 200-day EMA, starting the current downtrend. Now, the 100-day EMA is nearing a cross under the 200-day EMA, forming a more pronounced "death cross" pattern that could confirm further bearish momentum, according to CoinDesk. The break below $0.18 on Tuesday marked the loss of a support level that had held since early October. Large holders increased their selling, with mid-sized wallets dumping 440 million DOGE in three days, indicating institutional selling pressure.
Recent trading has been turbulent, with DOGE dropping 8% to $0.1697 as trading activity hit multi-week highs. The day’s low of $0.1641 triggered a wave of stop-losses and algorithmic selling, while futures trading volume jumped 50% to $5.25 billion. On-chain outflows reached $22.27 million per day, suggesting widespread deleveraging rather than new speculative buying. The further decline below $0.18 saw DOGE fall another 1.3% to $0.1740 as large holders continued to sell. Analysts suggest that holding above $0.18 could pave the way for a rebound to $0.26–$0.33, but a confirmed breakdown could send DOGE tumbling toward the $0.07 accumulation zone.
The short-term outlook depends on whether DOGE can stabilize above $0.165. Traders are watching to see if buyers can defend the $0.18–$0.185 area to counteract the bearish trend. A daily close above $0.21 would signal a reversal of the current downtrend, while ongoing weakness could push prices down to the $0.14–$0.15 range, where previous accumulation took place.
