Dogecoin News Today: Dogecoin's Fragile Recovery Hinges on $0.15 Support Amid Mixed Derivatives Signals

Dogecoin (DOGE) faces mounting pressure as bearish momentum intensifies across the cryptocurrency market, with the meme coin trading near $0.1587 as of Wednesday, down 37% from its October 10 flash crash peak. The decline reflects broader uncertainty ahead of the Federal Reserve's December monetary policy meeting and a lack of catalysts to reignite bullish sentiment. Despite stabilization in derivatives markets, technical indicators suggest a fragile recovery path for the $24 billion market-cap asset.

The Relative Strength Index (RSI) on the daily chart reads 34, underscoring bearish control, while the Moving Average Convergence Divergence (MACD) remains in a bearish crossover. Dogecoin has also fallen below key moving averages-$0.1893 (50-day EMA), $0.2024 (100-day EMA), and $0.2090 (200-day EMA)-further weakening its technical structure. A break below the immediate support at $0.1500 could push the price toward $0.1424, a level tested in June.

Derivatives market activity offers mixed signals. Open Interest (OI) in DOGE futures has risen to $1.66 billion, stabilizing after a post-flash crash dip to $1.37 billion. This suggests renewed investor interest, though the OI-Weighted Funding Rate recently turned positive at 0.0076%, indicating cautious long-position accumulation. The Money Flow Index (MFI) remains below a descending trendline, signaling outflows from the asset.

Recent developments, including the debut of Grayscale's GDOG ETF, have failed to counteract selling pressure. While the ETF aims to boost institutional demand, DOGE remains constrained by resistance at $0.1495 and support at $0.144. Analysts note that sustained recovery will depend on the Fed's policy clarity and renewed speculative activity.

Market observers highlight the importance of the $0.1500 level, with a potential rebound toward the $0.181 resistance zone contingent on holding above this threshold. Meanwhile, Shiba Inu (SHIB) and Pepe (PEPE) mirror DOGE's bearish trajectory, amplifying sector-wide risks.