“Dogecoin defends the $0.16 level as profit‑taking curbs its breakout push.”
DOGE Maintains $0.16 Support as Profit-Taking Limits Upside
November 6, 2025
Dogecoin (DOGE) slipped 0.5% to $0.1657 on Wednesday, holding firm above $0.16 support despite profit-taking near resistance. The token retained a neutral-to-bullish short-term bias, defending its ascending channel structure.
Market Drivers
Institutional flows guided DOGE’s intraday moves. Large holders accumulated near $0.1620 earlier in the week, trimming exposure as bids thinned around $0.1670. Tuesday’s breakout on 774M volume confirmed smart-money participation, rather than retail speculation, as the primary driver.
Derivative activity showed modest increases in DOGE futures open interest on Binance and Bybit, suggesting hedging rather than aggressive risk-taking. Analysts note that resilience above $0.16 reflects disciplined profit rotation, not trend exhaustion.
Technical Overview
- Price ranged from $0.1646 to $0.1665, settling at $0.1657
- Support: $0.1617–$0.1620; resistance: $0.1665–$0.1670
- Volume: +104% above daily average, concentrated at $0.1665 highs
- Ascending channel intact; higher lows indicate potential for renewed breakout
- Volatility: 4.2%
Key Levels and Watchpoints
- Maintain $0.1620 support for channel integrity
- Break above $0.1670 could target $0.17–$0.175
- Closes below $0.1615 may open downside risk
- Cross-asset flows from BTC and SOL to gauge broader market sentiment
DOGE’s ascending channel and institutional support suggest potential for continued upside if $0.16 support holds.
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