Dogecoin (CRYPTO: DOGE) fell almost 5% on Thursday, with price sliding below 16 cents amid heavy selling pressure.
Trendline Resistance Keeps Price Capped
DOGE Price Action (Source: TradingView)
Dogecoin continues to respect the descending trendline from the October high.
Every bounce toward the 20-, 50-, and 100-day EMAs has failed, confirming sellers remain in control.
The token sits inside a broad correction structure with no successful defense of key supports.
Each attempt to reclaim the 20-day EMA has triggered fresh selling.
That pattern reinforces a clear sequence of lower highs and lower lows.
Key Support Near $0.15 Faces Pressure
Dogecoin has returned to its critical demand zone between $0.15-$0.155, previously identified as a weak low.
Losing this level could expose the next liquidity pocket around $0.14.
A close below that area would signal acceleration toward deeper downside targets.
The structure will only change if price breaks the descending trendline and closes above $0.186-$0.200.
That zone aligns with the 100-day EMA and prior supply cluster from late September.
Flows And Derivatives Confirm Weakness
DOGE Netflows (Source: Coinglass)
Spot flow data shows persistent outflows, with about $7.1 million leaving exchanges on Nov. 6.
Such outflows during a downtrend usually signal distribution rather than accumulation.
That suggests holders are exiting rather than positioning for a rebound.
DOGE Derivative Analysis (Source: Coinglass)
Open interest in futures fell about 4%, showing traders cutting exposure instead of adding risk.
Long/short ratios appear skewed toward longs, but the price reaction proves those positions lack strength.
Derivatives volume dropped over 60%, highlighting fading speculation and investor caution.
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$DOGEDogecoin – United States dollar$0.1602-4.16%OverviewMarket News and Data brought to you by Benzinga APIs
