DOGE Price Up 0.53% Amid Whale Transfer and Bullish Indicators

On NOV 16 2025, DOGE rose by 0.53% within 24 hours to reach $0.16382, DOGE dropped by 4.67% within 7 days, dropped by 12.03% within 1 month, and dropped by 48.09% within 1 year. The recent on-chain and technical indicators suggest Dogecoin remains in a resilient phase despite a large whale deposit of $25.4 million into Robinhood. Market dynamics appear to absorb the liquidity event without triggering a significant downturn, with key support levels continuing to hold firm.

The transfer of 160 million DOGE to Robinhood has raised concerns about short-term selling pressure. However, DOGE’s price action reveals a strong bounce from a critical support zone that previously powered an 84% rally. This support level remains intact, reinforcing the idea that long-term holders still control the majority of the supply. The asset’s price structure suggests that bears are struggling to push it below this level, which is a positive sign for bulls.

Technical metrics further reinforce the market’s bullish disposition. Open interest in Dogecoin futures has risen by 5.33% to $1.51 billion, indicating growing trader participation and confidence in the recovery. Additionally, the recent price rebound has coincided with a surge in short liquidations—$232,800 in short positions were wiped out compared to just $70,400 in long liquidations. This imbalance suggests that bearish bets were ill-prepared for the strength of the support level, leading to forced closures that have fueled further buying pressure.

Dogecoin’s exchange netflow has also shown signs of shifting sentiment. After weeks of outflows, the netflow has flipped to a +$2.9 million inflow, signaling some short-term positioning. While this does not indicate a broader bullish reversal, it does highlight a more balanced market where accumulation trends remain intact. Long-term holders still control the bulk of the supply, reducing the likelihood of a large-scale sell-off.

Backtest Hypothesis

To assess the potential strength of DOGE’s support level in more rigorous terms, a backtesting strategy can be employed. The idea is to isolate every historical instance when DOGE experienced an 84% rally and determine how often the support level held. Once these instances are identified, we can measure the performance of the asset over the following days, weeks, and months.

The strategy involves defining a rule-based approach for identifying support levels and confirming that the price has closed within a specified range around that level. The default parameters suggest a 3-day confirmation window, a 2% buffer around the support level, and a forward return measurement over 1, 7, 15, 30, and 60 days. By applying these rules to historical data from January 1, 2022, through November 15, 2025, we can test whether the support level has consistently acted as a reliable floor for DOGE.