Dogecoin price currently hovers near $0.15 support amid rising liquidation pressure.
Analysts predict a rebound, targeting up to $0.48 by early next year.
Technicals remain weak, but oversold signals hint at a possible recovery.
Dogecoin (DOGE) is at the centre of market attention as the broader crypto sector struggles to stabilise.
The popular meme coin has extended its recent losses, but some analysts believe a major rebound could be in the making.
Despite the current downturn, optimism is quietly building that the Dogecoin price could soon “burst” upward if key technical levels hold.
Market pressure builds as DOGE tests key support
The Dogecoin price has dropped 5.3% in the past 24 hours, deepening its 12.9% weekly decline.
Currently at around $0.1586, DOGE is trading dangerously close to its crucial $0.15 support zone.
The market’s overall risk-off sentiment, coupled with thin liquidity, has intensified selling pressure.
According to CoinGlass data, more than $3.94 million in long positions were liquidated on November 6, compared with just $961,000 in short positions — a rare 12,129% imbalance that sparked panic selling and accelerated DOGE’s decline.
The fallout from these liquidations has been amplified by the token’s low turnover ratio of just 7.5%.
Futures open interest has also fallen 6.8% over the past week, showing waning speculative confidence.
Traders should closely watch the funding rates, which have slipped to -0.002%, for signs of an easing bearish leverage.
Technicals hint at weakness, but setup remains intact
Technical indicators continue to paint a cautious picture.
The Relative Strength Index (RSI) stands at 32.23, placing DOGE near oversold territory but offering no definitive reversal signal.
The MACD and momentum indicators also remain in negative territory, confirming that short-term sentiment is weak.
Dogecoin is still trading below all key moving averages, including its 10-day EMA at $0.176 and 200-day SMA at $0.216, reinforcing the bearish outlook in the near term.
Even so, oversold conditions could create the foundation for a rebound.
DOGE has repeatedly found strong support around the $0.15–$0.165 range, which now represents a make-or-break level.
On the other hand, a decisive daily close above $0.1684 would be the first technical sign that downward momentum is fading.
Analysts see potential for a bullish breakout
Despite the current gloom, several well-known analysts have voiced a more optimistic outlook.
Crypto analyst Butterfly believes the Dogecoin price could soon “burst” upward from its current range.
In an X post, Butterfly noted that DOGE is hovering near the lower boundary of a symmetrical triangle on the three-day chart, a zone that has historically acted as a launchpad for rallies.
#DOGE is facing the lower boundary of the symmetrical triangle on the 3D chart👀
This zone remains a strong floor for price action — bullish pressure is mounting fast👨💻
Stay alert because $DOGE could totally BURST from here🚀 pic.twitter.com/DRREgBWv45
— Butterfly (@butterfly_chart) November 4, 2025
Her projection targets a potential rise toward $0.48 by the end of the year or early next year if bullish pressure continues to build.
Other analysts share similar views. Ali Martinez pointed out that the TD Sequential indicator has flashed a buy signal, suggesting a local bottom may already be in place.
TD flashes buy on Dogecoin $DOGE. Local bottom might be in! pic.twitter.com/g84k4FtO5d
— Ali (@ali_charts) November 5, 2025
Analyst Chandler argued that DOGE’s biggest rallies tend to follow sharp market reversals in the broader altcoin market, while Ether emphasised that Dogecoin’s long-term bullish structure remains intact despite short-term volatility.
Just a small observation. The biggest bull runs were usually preceded by TOTAL3/TOTAL grinding up. Then you’d get a sharp drop and a clean V-shaped recovery – and that’s when $DOGE would typically peak. Feels like TOTAL3/TOTAL is starting to trend upward again. pic.twitter.com/ueSLiDFw6r
— Chandler⚡️ (@ChandlerCharts) November 6, 2025
Dogecoin price forecast
Market sentiment remains fragile, with the Crypto Fear & Greed Index currently sitting at 24, signalling “Extreme Fear,” while Bitcoin’s dominance has climbed above 60%, pulling capital away from altcoins.
If Bitcoin maintains stability above $100,000, capital could flow back into riskier assets like DOGE.
For now, $0.15 stands as the critical line in the sand. A sustained hold above that level could pave the way for consolidation and, eventually, a move toward the $0.17–$0.20 range.
A close below it, however, might open the door to deeper losses near $0.12–$0.114.
