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Dogecoin trading volume has surged past $2 billion while the Dogecoin Price struggles to stay above key support levels.
High volume with falling or flat price signals, possible selling pressure from large Crypto holders.
DOGE remains below the critical $0.18 level, turning it into resistance and hinting at short-term bearish sentiment.
Dogecoin (DOGE) recently saw a massive increase in trading volume. On November 3, 2025, price data showed that DOGE’s daily volume exceeded $2 billion, representing a significant increase over recent days. Simultaneously, technical indicators suggested that selling pressure was intensifying, rather than fresh buying momentum emerging.
According to historical data, the token closed at around $0.186 on that day, having traded in a range of approximately $0.162 to $0.186, with a volume of about $3.57 billion. On November 4, the volume rose to around $4.88 billion, yet the price was lower.
Such levels typically show growing market activity. In this case, despite the surge in volume, the price slipped, an outcome that raises questions about what kind of flow is driving the volume: accumulation or distribution.
In traditional and crypto markets alike, a volume spike accompanied by a falling or flat price can suggest that large holders (or “whales”) are offloading their positions. In the case of Dogecoin, while volume rose above the $2 billion mark, the token failed to rally and recorded a decline. That phenomenon tends to indicate that supply exceeds demand: heightened turnover may suggest that sellers are eager to exit, while buyers are only stepping in after prices have already decreased or are behaving with caution.
More specifically, the volume on November 4 reached nearly $4.88 billion, yet the close was lower than the open. This pattern intensifies concern: instead of volume supporting a rebound, it accompanied further downward motion. If such behaviour continues, it could signal that the market is transferring risk from stronger hands to weaker ones, where big holders sell. New participants buy in at less favourable levels. That can create a fragile base beneath the price.
Also Read: Dogecoin Strives For $1.70 as Chart Projects 800% Surge
At the current moment, Dogecoin price is trading around $0.164 with an intraday range between roughly $0.161 and $0.168. This marks a retreat from earlier levels near the $0.18 range and above. Historically, the $0.18 zone has served as both psychological and technical support; a breakdown below that level is crucial, as once a support level fails, it may act as resistance going forward.
At the same time, broader market indicators are mixed. Some forecasts suggest a possible rebound of Dogecoin toward $0.22 or beyond by the end of November, fueled by renewed meme coin interest and broader crypto momentum. Concurrently, technical indicators (such as moving averages and oscillators) are showing increasing caution, highlighting that sentiment may not support a sustainable rally unless key resistance levels are reclaimed.
The risk and reward outlook is uneven: while some upside potential remains, the failure to hold previous support and the simultaneous volume surge raise the bar for a meaningful recovery. If volume continues to rise but the price fails to break higher, the evidence may tilt firmly toward bearish.
Beyond Dogecoin volume, on-chain metrics and trading behaviour provide additional insight. The large volume could reflect either heavy accumulation or wholesale distribution. In this instance, the fact that stronger volume days coincide with lower closes suggests distribution. Moreover, there appear to be fewer “new entrants” stepping in aggressively; active addresses and new large-transaction counts did not surge in proportion, which suggests that the volume surge is driven more by existing holders rather than fresh demand.
This mismatch often precedes consolidation or further downside in speculative assets. In effect, the participation rise may be symptomatic of a top‐of‐move thinning of supply before a larger decline, rather than the beginning of a sustained reversal.
Key levels will determine whether the scenario evolves into a negative continuation or a reversal. First, reclaiming $0.18 or above with conviction (on strong volume and higher lows) would signal that buyers are re-entering and a base may be forming. If that happens, the earlier high volume might have signalled capitulation and absorption, turning into a bullish turning point.
Conversely, if DOGE continues to trade below $0.18, with volume remaining elevated (or even rising) while price either stagnates or drops, the bearish interpretation gains traction. In that scenario, the next lower support levels could come into focus, perhaps near $0.15 or lower.
In addition to price-based cues, monitoring whether large wallets begin to accumulate again (rather than unload), whether active addresses begin rising, and whether sentiment indicators shift from neutral or cautious to bullish are also important. A genuine reversal in narrative would require more than just volume; it would demand sustained buying rather than one-off spikes.
Also Read: Dogecoin Analyst Predicts November Surge Tied to Market Moves
The recent surge in trading volume for Dogecoin is a valuable data point. As this volume increase coincided with price weakness or failure to meaningfully rebound, the signal leans bearish rather than bullish for the near term. The volume spike appears more consistent with supply meeting fair value that is then being offloaded, rather than fresh buying driving higher valuations.
That said, stability is not settled. If price can reclaim previous support through solid volume and renewed demand, the picture could shift. Until then, the elevated volume and pressured price warrant caution. The odds are skewed toward continuation of downward or sideways movement rather than a strong rebound.
1. Why has Dogecoin’s trading volume surged to over $2 billion?
The surge in Dogecoin trading volume is driven by increased market activity from traders and large holders, as well as rising interest in the broader crypto market.
2. Is the rise in Dogecoin volume a bullish or bearish signal?
High volume with a falling or stagnant Dogecoin price can indicate selling pressure, making it a potential bearish signal rather than a bullish one.
3. What price level is critical for Dogecoin right now?
The $0.18 level is considered a key resistance. Staying below it increases bearish sentiment, while breaking above it may support a possible recovery.
4. Are large holders or “whales” affecting DOGE movement?
Yes, reports suggest some large holders are selling during high-volume periods, adding to downward pressure on the Cryptocurrency.
5. Can Dogecoin recover if demand increases again?
A recovery is possible if buying interest strengthens, Dogecoin Price rises above resistance levels, and volume supports upward momentum instead of selling pressure.
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