The Dogecoin price is back under pressure after sliding to the crucial $0.15 support zone, a level many traders say could determine whether the world’s biggest memecoin rebounds into December or sinks deeper before any recovery.
With volatility ripping through the crypto market, DOGE holders are anxiously watching what comes next. The drop follows a rough week for the entire sector, highlighted by Bitcoin sinking below $90,000.
Technical indicators show that Dogecoin is attempting to consolidate above the key Fibonacci 0 level at $0.15178, a support that has held several times this month. But with RSI hovering around 39, the market still leans bearish, leaving room for both further downside and a possible bounce.
Market weakness intensified after the Dogecoin price broke below earlier support at $0.1720, exposing the $0.1650–$0.1600 region. Analysts note that the next major structural line, the weekly 200-EMA, sits near $0.16, making it the final defense before deeper losses.
Despite the broader downtrend, several encouraging signals are starting to appear. Exchange net position change for DOGE recently flipped positive, a shift historically associated with early accumulation phases.
Whales also acquired more than $8 million worth of DOGE in the past three days, with an additional $9 million entering long futures positions across Binance and OKX.
Money Flow indicators show a slight uptick at the support zone, suggesting dip-buyers are slowly returning. Still, net spot outflows remain mildly negative, a sign that confidence is improving, but not fully restored.
Dogecoin’s immediate future hinges on whether $0.15 can hold. A strong defense could push the Dogecoin price toward resistance at $0.1654, $0.1738, and ultimately $0.1807. A decisive break above $0.20 would open the door to a broader December recovery.
However, a loss of $0.15 would flip the market structure bearish, exposing $0.095 and even $0.059 as potential mid-term targets. For now, DOGE sits at a make-or-break zone, and December may reveal whether memecoin momentum returns, or if more downside must play out first.
Cover image from ChatGPT, DOGEUSD chart from Tradingview
