Dogecoin News Today: Dogecoin's Fragile Defense at $0.18 Tests Bearish Abyss as Support Cracks

Dogecoin (DOGE) has re-entered a critical Wyckoff accumulation zone as the meme coin clings to its $0.1825 support level, offering a potential floor amid ongoing bearish pressure. The token's recent price action underscores a fragile recovery, with long-term holders and institutional investors signaling mixed signals about its near-term trajectory. After a steep monthly decline of nearly 27%, DOGE has seen a brief rebound, rising 1.2% in early November, but remains down 5.9% over the past week as on-chain data reveals intensifying selling from seasoned investors, according to a CoinDesk report.

The $0.17–$0.19 support cluster has historically acted as a buffer during downturns, but this safety net is now showing cracks. Glassnode data highlights a significant cost basis concentration at $0.177–$0.179, where 3.78 billion DOGE were last accumulated. However, a sharp reversal in investor sentiment is evident, with long-term wallet inflows flipping to outflows of –22 million DOGE within 24 hours, a 367% swing from positive inflows, the CoinDesk article noted. This shift suggests a potential erosion of the support zone, exposing DOGE to further downside toward $0.14.

Technical indicators reinforce the bearish outlook. Dogecoin's 50-day EMA crossed below the 200-day EMA in late October, initiating its current decline. The 100-day EMA now approaches a crossover below the 200-day EMA—a stronger "death cross" pattern that could confirm deeper bearish momentum, CoinDesk reported. Meanwhile, the breakdown below $0.18 on Tuesday marked a structural failure of a support zone defended since early October. Whale selling intensified, with mid-tier wallets offloading 440 million tokens over three sessions, signaling institutional distribution.

Recent price action has been volatile, with DOGE plummeting 8% to $0.1697 as trading volume surged to multi-week highs. The intraday low of $0.1641 triggered cascading stop-losses and algorithmic selling, while futures turnover rose 50% to $5.25 billion. On-chain outflows reached $22.27 million daily, reflecting broad deleveraging rather than new speculative demand. A further breakdown below $0.18 has deepened, with DOGE sliding 1.3% to $0.1740 as whales accelerated distribution. Analysts note that maintaining the $0.18 level could open a recovery path toward $0.26–$0.33, but a confirmed failure risks a steep drop toward the $0.07 accumulation cluster.

The immediate outlook hinges on stabilization above $0.165. Traders monitor whether bulls can defend the $0.18–$0.185 range to neutralize bearish momentum. A daily close above $0.21 would invalidate the current downtrend, while continued weakness could extend losses toward $0.14–$0.15, where prior accumulation occurred.