Dogecoin Price Nears $0.17 Amid Fresh Downside Pressure on Cryptocurrencies
Dogecoin (DOGE) price fell to nearly $0.17 as fresh downside pressure hit the cryptocurrency market. However, the memecoin has since bounced off intraday lows and is inching towards the $0.18 mark.
What’s next for Dogecoin amid growing anticipation for a DOGE ETF?
### Dogecoin Price Movement and Market Sentiment
DOGE price dropped from highs of around $0.18 as Bitcoin and major altcoins pared gains following an uptick on Monday. Despite the dip, bulls are showing resilience, with prices recovering from lows near $0.17. The top memecoin recorded a noticeable decrease in selling pressure during this period.
As of November 12, 2025, Dogecoin is trading at approximately $0.176, a slight increase from its intraday low of $0.1712. Although the asset remains in negative territory on the day, it is up nearly 9% over the past week. This bounce and renewed interest from bullish traders suggest that Dogecoin could be poised for a potential continuation higher.
### Dogecoin Price Technical Outlook
The $0.15 price level has served as a strong support zone since March 2025. This level coincides with key reload areas observed during recent market sell-offs. In October, bears pushed prices briefly below this mark, but traders view $0.15 as an important psychological and technical floor.
By preventing deeper corrections in recent months, this buffer zone has allowed bulls to maintain their position in the market. Currently, DOGE trading above $0.17 aligns with technical indicators, including a hidden bullish divergence on the Relative Strength Index (RSI). This divergence signals that selling pressure may be easing.
Investors are also considering broader market dynamics, such as positive macroeconomic factors like the conclusion of the US government shutdown and evolving monetary policies. In this context, Dogecoin’s resilience around $0.17 highlights strength at a well-established level.
If the price manages to bounce off the lower boundary of a multi-month broadening wedge pattern, a breakout above the $0.18 resistance level becomes likely. Such a move could pave the way for a retest of the $0.20 mark.
Notably, the 50-day exponential moving average (EMA) is currently providing downward resistance near $0.199. A successful break above this level could open the door to higher targets at $0.22 and $0.30.
### Why Is Dogecoin’s Price Outlook Largely Bullish?
Dogecoin’s bullish outlook stems from a combination of catalysts including institutional developments, strong community support, and favorable technical setups.
Despite some short-term bearish signals, mounting anticipation around spot Dogecoin exchange-traded funds (ETFs) is a significant driver. Altcoins such as XRP, Solana, Litecoin, and Dogecoin are among the top candidates poised to benefit from upcoming ETF launches.
The countdown to the Bitwise DOGE ETF, as highlighted by CoinJournal earlier this month, is intensifying bullish sentiment.
Additionally, on-chain activity shows that large wallet investors continue to add to their Dogecoin holdings amid the recent price dip and memecoin hype. This accumulation supports ongoing bullish momentum.
Finally, although the 50-day EMA is currently trending downwards, it has historically served as a robust support level during previous price consolidations.
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In summary, Dogecoin is demonstrating notable resilience near $0.17 with several technical and fundamental factors supporting a potential upside move. Traders and investors will be closely watching key resistance levels and ETF developments for further direction.
https://bitcoinethereumnews.com/tech/dogecoin-price-holds-above-0-17-as-bulls-eye-breakout-toward-0-20-check-forecast/
