Dogecoin Dips: More Pain Ahead? Prepare for a Long, Dark Crypto Winter

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Dogecoin (DOGE) is currently limping along at $0.156, a pitiful 19% drop over the last month and a meager 11% slide this past week. While some of the so-called “big coins” are shamelessly pretending to recover, Dogecoin continues to wallow in despair. The trend? Still plummeting. The signals? Miserable. The future? Bleak. If you’re holding your breath for a miracle, maybe you should check your pulse.

The short-term structure reveals why Dogecoin’s (DOGE) sorry performance is unlikely to improve anytime soon. Brace yourselves, because things are looking grim.

Momentum Fades Fast: Bearish Divergence Unveils Itself

Let’s talk about momentum – or, should I say, the lack of it? Between Nov. 15 and Nov. 18, Dogecoin made a lower high, but shockingly, the RSI (Relative Strength Index) made a higher high. What does that mean? It means we’ve got a hidden bearish divergence forming – a classic sign that this downtrend still has plenty of room to run. Traders? Oh, they’re already treating this as a warning signal, ready to hop off the ship before it sinks completely.

In simpler terms, this looks like the beginning of another long, depressing chapter for Dogecoin.

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The plot thickens when we examine the behavior of long-term Dogecoin holders. According to Glassnode’s Hodler Net Position Change, these wallets are unloading in a panic. They usually only sell when their belief in Dogecoin’s future has evaporated faster than a drop of water in the Sahara.

On Nov. 9, long-term holders were tossing around 62.35 million DOGE. By Nov. 19, this figure soared to 237.20 million DOGE, an increase of nearly 175 million DOGE in just 10 days. Let me spell it out: That’s a 280% surge in selling pressure. Does this sound like a solid foundation for a price rebound? Absolutely not.

Put it all together, and you’ll see why Dogecoin’s short-term outlook is more of a dumpster fire than a phoenix rising from the ashes. With weakening momentum and panic-selling from long-term holders, it’s all but guaranteed that any potential price rebounds will be fleeting – and they’ll likely end in tears. Or worse, in losses.

Dogecoin Faces More Pain – Unless a Miracle Happens

The Dogecoin price is still heading south, clinging to whatever support it can find. The first significant level to watch is $0.150. If it loses that support, well, brace yourself for a plunge to $0.140 or even $0.127. And that’s if the broader market sentiment decides to join Dogecoin in the abyss.

On the flip side, if Dogecoin can somehow break through the resistance at $0.163, we might see a temporary halt to the downward spiral. But don’t get your hopes up – even if it does, the next resistance lies at $0.186, and getting there will feel like climbing Everest in flip-flops.

So there you have it. The big picture is clear. Dogecoin’s downtrend remains intact. Momentum is firmly in the hands of sellers. And long-term holders? They’re quietly cashing out, one DOGE at a time. Unless Dogecoin pulls off some miraculous rally – and I wouldn’t bet on it – this crypto journey is heading further south. The only question is, how far can it go?

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2025-11-20 20:12