DOGE Holds $0.16 Support as Profit-Taking Limits Upside
November 6, 2025
Dogecoin (DOGE) edged 0.5% lower to $0.1657 on Wednesday, defending $0.16 support despite profit-taking near resistance. The token maintained a neutral-to-bullish short-term bias, preserving its ascending channel.
Market Dynamics
Institutional flows drove intraday price action. Large holders accumulated near $0.1620 early in the week, trimming exposure around $0.1670. Tuesday’s breakout on 774M volume confirmed smart-money participation rather than retail speculation.
DOGE futures open interest on Binance and Bybit rose modestly, suggesting hedging activity over aggressive risk-taking. Analysts noted that holding above $0.16 reflects disciplined profit rotation, not exhaustion of the trend.
Technical Snapshot
- Price range: $0.1646–$0.1665, settling at $0.1657
- Support: $0.1617–$0.1620; Resistance: $0.1665–$0.1670
- Volume: +104% vs daily average, concentrated near $0.1665 highs
- Channel: Ascending with higher lows; volatility 4.2%
Key Levels to Watch
- Hold $0.1620 to maintain channel structure
- Break above $0.1670 targets $0.17–$0.175
- Closes below $0.1615 could trigger further downside
- Monitor BTC and SOL flows for broader market sentiment
DOGE’s ascending channel and institutional backing suggest upside potential if $0.16 support remains intact.
