Dogecoin faces heightened volatility as Bitcoin’s newly formed Death Cross casts a bearish shadow over the meme-coin market. The technical signal — where Bitcoin’s 50-day moving average fell below the 200-day — adds pressure after an early DOGE rally quickly faded.
Market Overview
Bitcoin triggered its first Death Cross since 2022 on Nov. 16, dropping below $94,000 and pushing sentiment into Extreme Fear (10) on the Fear & Greed Index. While the pattern isn’t a guaranteed indicator of further losses, it historically weighs on high-beta assets like DOGE, especially during low-liquidity periods.
Selling by whales and outflows from spot Bitcoin ETFs contributed to a broader risk-off environment. Traders rotated capital into more liquid major cryptocurrencies, though DOGE saw occasional accumulation from larger holders.
DOGE Price Action
Dogecoin initially rallied 4.41% to $0.156, supported by 29.6% higher-than-average volume. Buyers defended the $0.1551–$0.1580 zone, absorbing heavy selling and pushing DOGE briefly above $0.1640.
Late-session profit-taking erased gains, driving a 2.57% decline toward support. DOGE traded within a 5.8% intraday range, closely mirroring Bitcoin-driven market swings.
Technical Analysis
DOGE began the session in an ascending structure, boosted by strong volume around $0.158. The rally stalled at $0.163–$0.165, and an afternoon volume spike of 1.26 billion DOGE traded showed aggressive support defense and potential institutional accumulation.
However, Bitcoin’s continued slide below $94,000 triggered algorithmic selling. DOGE broke its final higher-low, confirming its sensitivity to BTC’s macro trend.
Key Levels to Watch
- Support: $0.158 is crucial; holding it signals whale accumulation is offsetting selling pressure. Breach risks a drop toward $0.152–$0.148.
- Resistance: Reclaiming $0.1604 and clearing $0.163–$0.165 is necessary to counter the bearish influence of Bitcoin’s Death Cross.
- Volume: Strong buy volume at $0.158 suggests accumulation; weak-volume bounces are vulnerable.
- Macro Drivers: BTC ETF outflows and its ability to hold above $93,000 will largely dictate DOGE’s near-term direction.
Dogecoin’s immediate outlook now hinges on whether it can withstand Bitcoin-induced volatility or if the Death Cross will suppress meme-coin momentum in the coming sessions
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