Will Dogecoin Surge Soon? Analyst Points to November Window

Overview

• Dogecoin price tumbled 2.3% to $0.1827 as long-term holders started to exit the cryptocurrency amid intense whale selling, indicating a bearish short-term setup.

• Market watchers such as VisionPulsed see a possible recovery phase in November, pegged to equity and Bitcoin momentum.

• Traders expect a grind towards mid-November resistance if DOGE stays above the $0.177 level, while a drop below that could see a deeper correction.
  

Dogecoin was among the most traded meme coins in the first week of October. The coin slipped 2.3% to $0.1827 at the time of writing. The popular meme token was below key support at $0.1830 amid intense selling by large holders and a change in sentiment by long-term investors. 

Despite the weakness, analysts see a possible rebound window in November, provided the bigger market conditions allow it. 

Whales Sell as Technical Signals Turn Bearish

Over the week, the on-chain activities of Dogecoin have reflected very high volatility. According to data, mid-tier whales, holding 10-100 million coins, have sold off more than 440 million tokens in the last 72 hours. This was accompanied by a net outflow of 22 million DOGE from long-term holders, marking the most significant reversal of accumulation in almost a month.

Technically, the picture has darkened. The Dogecoin price chart flashed a ‘death cross’, in which the 50-day MA sinks below the 200-day MA, a classic bearish signal that often precedes further downside. The 100-day EMA is also getting close to a similar cross, reinforcing short-term weakness.

The nearby support for DOGE price lies within the $0.177-$0.179 area, wherein around 3.8 billion tokens are held. A convincing breakdown below this zone might expose the coin to a severe drawdown toward $0.14, a key liquidity pocket lower. Up north, traders are eyeing $0.1830-$0.1850 as the resistance range that must be reclaimed for any meaningful recovery.

Also Read: Dogecoin Volume Surges to $2 Billion: Is this a Potential Bearish Signal?

Traders Eye November as a Possible Turning Point

Against this bear structure, some analysts remain cautiously optimistic. According to prominent crypto market analyst VisionPulsed, in light of broader “risk-on” sentiment in equities and some key signals from Bitcoin and Ethereum, Dogecoin might see a recovery window in November.

In his view, it is ‘constructively bullish’ going into mid-November. "There's probably no big bull run just yet," he said, "but it looks bullish from here to at least December."

His analysis also links the possible rally of Dogecoin to a chain reaction across markets:

• If the S&P 500 continues higher, the Russell 2000-small-cap index may follow.

• A Russell breakout could encourage Ethereum to rally.

• Whenever Ethereum breaks out, Dogecoin usually follows.

This inter-market relationship has held in past cycles as well, with Dogecoin surging following the strength of the altcoin season in 2017 and 2020.

Two Scenarios: Bullish Acceleration or Sharp Reversal

VisionPulsed frames Dogecoin's outlook within a rising channel pattern, suggesting a gradual climb toward the top of the channel by mid-November. If momentum persists and capital rotates into altcoins, he sees a possible push higher toward $0.80-$0.90, though he warns this could constitute a local top before consolidation.

In a less favourable scenario, if Bitcoin's dominance remains high and altcoins fail to attract inflows, DOGE could ‘stall at the top of the channel’ before correcting sharply-possibly falling back to $0.13.

He emphasizes that Bitcoin's moving average support is the ultimate determinant. “If Bitcoin breaks below its key moving average,” he warned, “There’s no bull run at all, we’re still in a bear market.”

What Traders Should Watch Next

Bitcoin's Trend Support - As long as BTC stays above its moving average, DOGE has room for some upside.

Ethereum's Breakout Signal - A rally in ETH could trigger capital rotation into high-beta altcoins like Dogecoin.

Volume and Whale Activity - Signs of accumulation and reduced whale selling may confirm a bottom formation.

Also Read: Dogecoin News Today: Whales Dump $1B in DOGE as Price Crashes 7%

Final Thoughts

Dogecoin’s near-term technicals remain fragile, but analysts are watching November closely as a seasonal pivot month. Historically, DOGE has tended to bottom in late October and recover through mid-November during strong equity and crypto uptrends. If equities continue their upward march and Bitcoin holds its trend line, renewed momentum in Dogecoin could be seen at the end of November.

However, failure to hold above $0.177 could invite another round of selling, testing investor patience before any sustained rebound. As always, the outlook remains conditional and dynamic. While November might open the window, whether Dogecoin will take advantage of that would depend on the broader market confidence and crypto risk appetite.

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FAQs

1. What caused the recent price drop for Dogecoin? 

Dogecoin's price fell to about $0.18, a loss that followed heavy selling from large wallets and the emergence of a bearish technical indicator called a ‘death cross.’ Additionally, long-term holders also started exiting, indicating reduced confidence from buyers, which added downward pressure in the short term.

2. What does the ‘death cross’ indicate when looking at Dogecoin’s chart? 

A ‘death cross’ happens when the asset's 50-day moving average (MA) moves underneath the 200-day MA, which is often a sign that a downtrend in bearish momentum could last a while. For Dogecoin, the death cross occurred at the end of October, indicating the current sentiment had turned toward short-term weakness.

3. Will Dogecoin see a rebound in November? 

Analysts suggest November could see the beginning of a potential bullish window if the market improves. A stronger equity market, Bitcoin staying above support, and Ethereum rebounding out of its range could all improve the outlook for Dogecoin moving back towards the top of its trading channel.

4. What price levels are traders paying attention to for Dogecoin? 

Support is slightly below the current price, with immediate support around $0.177-$0.179 range for DOGE, while possible resistance is around $0.1830-$0.1850. If the price breaks above the resistance, it could create momentum toward $0.20, but a breakdown from $0.177 or lower could send DOGE to test the $0.14 level.

5. How does Bitcoin influence Dogecoin price? 

Dogecoin often performs in sync with Bitcoin. If Bitcoin stays above its significant moving average and investors feel optimistic, funds generally flow to altcoins like Dogecoin. However, if Bitcoin breaks down, this could stall or reverse any recovery in DOGE.