- Dogecoin price is currently hovering around the $0.15 support amid mounting liquidation pressure.
- Analysts are predicting a rebound and are targeting up to $0.48 by early next year.
- Although technicals remain weak, oversold signals suggest a possible recovery.
Dogecoin (DOGE) has been at the center of market attention as the broader crypto sector struggles to stabilize.
The popular meme coin has extended its recent decline, but some analysts believe a significant rebound could be on the way.
Despite the current economic downturn, there is quietly growing optimism that Dogecoin’s price could soon “soar” if key technology levels hold.
Market pressure increases as DOGE tests key support
Dogecoin price fell 5.3% in the past 24 hours, deepening its weekly decline of 12.9%.
DOGE is currently trading around $0.1586, dangerously close to the key support zone at $0.15.
Lack of liquidity and risk-off sentiment across the market are increasing selling pressure.
According to CoinGlass data, over $3.94 million in long positions were liquidated on November 6th, while short positions amounted to just $961,000. This rare imbalance of 12,129% triggered panic selling and accelerated the decline in DOGE.
The impact of these liquidations was amplified by the token’s low turnover rate of only 7.5%.
Futures open interest has also fallen 6.8% over the past week, indicating a decline in speculative confidence.
Traders should closely monitor funding rates, which have fallen to -0.002%, for signs of bearish leverage easing.
Technical suggests weakness, but setup remains intact
Technical indicators remain cautious.
With a relative strength index (RSI) of 32.23, DOGE is close to oversold territory, but there are no definitive reversal signals.
MACD and momentum indicators also remain in negative territory, confirming weak short-term sentiment.
Dogecoin is still trading below all major moving averages, including the 10-day EMA of $0.176 and 200-day SMA of $0.216, reinforcing a bearish outlook in the short term.
Still, oversold conditions could create the basis for a pullback.
DOGE has repeatedly found strong support around the $0.15 to $0.165 range, which is now the make-or-break level.
On the other hand, a definitive daily close above $0.1684 would be the first technical sign that the downside momentum is weakening.
Analysts see bullish breakout potential
Despite the current gloomy picture, several prominent analysts have expressed a more optimistic outlook.
Crypto analyst Butterfly believes Dogecoin’s price could soon “surge” out of its current range.
In the X post, Butterfly noted that DOGE is hovering near the lower limit of the symmetrical triangle on the 3-day chart, a zone that has historically served as the starting point for the rally.
#Doge Facing the lower boundary of the symmetrical triangle on the 3D chart 👀
This zone remains a strong lower bound for price action — bullish pressure is rapidly building 👨💻
Please be careful. $Doge It could totally burst from here 🚀 pic.twitter.com/DRREgBWv45
— Butterfly (@butterfly_chart) November 4, 2025
His forecast targets a potential rally toward $0.48 by the end of the year or early next year if bullish pressure continues to build.
Other analysts share similar views. Ali Martinez pointed out that the TD Sequential indicator is giving a buy signal, suggesting that a local bottom may have already been set.
Buy TD Flash with Dogecoin $Doge. There may be a local bottom! pic.twitter.com/g84k4FtO5d
— Ali (@ali_charts) November 5, 2025
While analyst Chandler argued that DOGE’s biggest gains tend to follow sharp market reversals in the broader altcoin market, Ether stressed that despite short-term volatility, Dogecoin’s long-term bullish structure remains intact.
Just a quick observation. The biggest bull markets are usually preceded by a TOTAL3/TOTAL smash. Then we get a sharp drop and a clean V-shaped recovery. That’s the time. $Doge It usually reaches its peak. It seems that TOTAL3/TOTAL is on the rise again. pic.twitter.com/ueSLiDFw6r
— Chandler ⚡️ (@ChandlerCharts) November 6, 2025
Dogecoin price prediction
Market sentiment remains fragile, with the Crypto Fear and Greed Index currently at 24, indicating “extreme fear,” while Bitcoin’s dominance exceeds 60%, pulling funds away from altcoins.
If Bitcoin remains stable above $100,000, funds could flow back into riskier assets like DOGE.
For now, $0.15 is the breaking line. If the price sustains above this level, it could pave the way for consolidation and eventually head towards the $0.17-$0.20 range.
However, if the price closes below that, you could incur even larger losses around $0.12 to $0.114.
