Dogecoin Price Watch: Could DOGE Spark Another November Breakout?

DOGE drops 8% to $0.16 but analysts see potential for a November rebound.

Historical trends show past November rallies after consolidation near key support levels.

A breakout above $0.20 could trigger bullish momentum toward the mid-$0.20 range.

Dogecoin — DOGE, has taken a hit, dropping 8% to $0.16 after losing key support at $0.1781. The pullback has left many traders uneasy, but not everyone sees doom ahead. Some analysts believe this decline could set the stage for a rebound. With November historically favoring DOGE rallies, many are asking whether the meme coin can repeat past performances or if momentum will fade before liftoff.

Analysts Spot Familiar Bullish Setup

Analyst YazanXBT views the current correction as a setup for potential gains. Data from CoinGlass shows a decline in DOGE futures open interest, down 2% to $1.7 billion. That suggests traders are temporarily cautious but could return if sentiment shifts.SHIB and PEPE also saw reduced futures activity, with SHIB down 7% and PEPE down 8%. The broader meme coin sector appears to be cooling after weeks of volatility.

Santiment’s on-chain data shows large Dogecoin wallets holding over 100 million tokens have remained quiet since early November. Despite reduced whale activity, the chart still hints at an emerging opportunity. DOGE currently trades between $0.17 and $0.18, forming a tight consolidation range. This pattern mirrors setups from past breakouts. Buyers have repeatedly defended the $0.17 level, signaling that support remains strong.

Can DOGE Repeat History This November?

Technical indicators show key support between $0.18 and $0.25, with the next major resistance near $1.15. If buyers can break through these zones, the path toward $1.60 becomes realistic. That price represents a potential new all-time high for DOGE. Analyst EtherNasyonal identifies a repeating long-term pattern in Dogecoin’s history. Since 2014, three major bull waves have occurred, each showing a similar rhythm — breakout, consolidation, and a stronger move higher.

The current structure may mark the early stages of the third wave.Recent attempts to reclaim $0.205 failed, but the market’s response has been measured. Buyers are showing renewed interest near $0.17, absorbing selling pressure each time price dips. Analyst BitGuru believes this is a sign that accumulation is underway. If DOGE can break above $0.20 with solid trading volume, analysts expect a move toward the mid-$0.20 range. That target aligns with October’s short-lived rally to $0.27.

A confirmed daily close above $0.20 could strengthen confidence and attract momentum traders back into the market. The next few days may prove critical. DOGE’s ability to maintain support and build volume could determine whether November brings another breakout. For now, the market remains cautiously optimistic, with long-term believers holding out hope that history will repeat once again.