Dogecoin Price Looks Set For Another Leg — Up Isn’t The Likely Direction

Dogecoin (DOGE) is trading near $0.156, down almost 19% over the past month and 11% in the past week. While a few large-cap coins are trying to build early recovery signs, the Dogecoin price is doing the opposite. The trend still tilts lower, and the signals forming on the chart and on-chain point to weakness rather than relief. The short-term structure shows why the Dogecoin (DOGE) price weakness may continue before any meaningful upside can develop. Momentum Weakens As Hidden Bearish Divergence Forms The clearest problem sits in the momentum data. Between Nov. 15 and Nov. 18, the Dogecoin price made a lower high, but the RSI made a higher high. RSI, or Relative Strength Index, measures whether buying or selling pressure is strong. When RSI climbs while the price makes a lower high, it forms a hidden bearish divergence. Traders treat this as a continuation warning, meaning the existing downtrend still has room. DOGE Prints A Bearish Divergence: TradingView Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. This weakness becomes more convincing when you look at long-term DOGE holders. Glassnode’s Hodler Net Position Change shows how many coins held for more than 155 days are moving. These wallets usually sell only when conviction collapses. On Nov. 9, long-term holders were distributing about 62.35 million DOGE. By Nov. 19, that figure had grown to 237.20 million DOGE. That is a sharp increase of nearly 175 million DOGE in ten days, a 280% jump. This reflects a clear rise in long-term selling pressure. HODLers Keep Dumping: Glassnode Taken together, momentum is weakening, and holders with strong hands are stepping back. That combination makes short-term rebounds easy to fade. All while exposing downside risks. Dogecoin Price Faces More Downside Unless Key Levels Break The Dogecoin price continues to lean lower along its trend structure, so the next supports come from the trend-based projection levels. The first important level sits at $0.150, which has repeatedly acted as a short-term floor. Losing this support could push the price toward $0.140 and even $0.127 if broader market sentiment softens. On the upside, the Dogecoin price needs to reclaim $0.163 to pause the bearish pattern. A clean move above $0.163 would shift momentum enough to target $0.186, the next major resistance on the chart. Until that happens, the downtrend remains intact, and every bounce carries the risk of fading. Dogecoin Price Analysis: TradingView For now, the overall picture stays simple. The trend is negative, the momentum favors sellers, and long-term holders are still distributing. Unless Dogecoin starts reclaiming key levels, the DOGE price trend is likely to continue — just not in the direction Long traders are hoping for. The post Dogecoin Price Looks Set For Another Leg — Up Isn’t The Likely Direction appeared first on BeInCrypto.