Dogecoin Price Drops 5% as Traders Eye Historical November Rally Pattern

The Dogecoin price has dropped 5% in the past 24 hours and 7% over the week to trade at around $0.183 on a 75% spike in the daily trading volume to $1.39 billion.

That price surge comes as Dogecoin (DOGE) traders turn their attention to November, a month historically known for strong DOGE rallies. Analyst YazanXBT noted that Dogecoin has consistently surged during this period, in 2015, 2017, 2020, and 2024, often marking the start of broader altcoin uptrends.

A TradingView chart by ChandlerCharts also highlighted repeated November breakouts that preceded major crypto market gains, suggesting a possible cyclical pattern this year.

Though whale accumulation hints at bullish positioning ahead of a potential rebound, historically, Dogecoin rallies have acted as early signals of altseason, with capital typically flowing into smaller-cap tokens afterward.

However, caution remains as Arkham data shows the Murad memecoin portfolio has dropped 59% to $27.5 million amid waning speculative demand. Meanwhile, BlockchainCenter’s Altcoin Season Index has fallen to 41 from 84, indicating Bitcoin dominance and suggesting that altseason may not have begun — yet Dogecoin’s pattern could soon test that outlook.

Dogecoin Price Analysis: DOGE Holds Key Support, Eyes Possible Rebound

Dogecoin (DOGE) is trading at $0.174, down about 6% in the past 24 hours. The price is sitting in a key buy zone, where it has found support several times before. Traders are watching this level closely as DOGE could be preparing for a rebound.

From the chart, Dogecoin broke out of a bearish channel earlier this year after a strong downtrend from January to March. The price then entered a consolidation phase around the $0.12–$0.15 range, forming a solid support zone. That same zone now appears to be holding again as buyers defend it.

DOGEUSDT Analysis Source: Tradingview

If DOGE bounces from the current level, it could rise toward $0.25 and possibly $0.35 if momentum grows. This would confirm a potential uptrend and mark a shift in market sentiment.

The RSI indicator is currently near 41, showing that DOGE is close to being oversold but not yet in recovery. A move above 50 on the RSI would signal that buying pressure is returning.

However, if the support fails and DOGE falls below $0.15, the price could stay in a longer consolidation phase before attempting another rally.

Historically, Dogecoin has performed well in November, often recording strong gains. If that pattern repeats and trading volume increases, DOGE could see a solid bounce this month.

In short, Dogecoin is testing a critical support zone. A rebound from here could start a new uptrend, but a breakdown below $0.15 might delay any major move. Traders should watch the $0.17–$0.18 range for the next direction signal.