Following a brutal start to November, DOGE slid nearly 9% in the last 24 hours to around $0.165 with a 101% surge in trading volume.
Market Turmoil Sends DOGE Tumbling
While Bitcoin fell about 4% to $103K, the altcoin market was hit much harder. Ethereum and Solana each lost over 7%, and Dogecoin led the downside, briefly touching multi-week lows as long positions were wiped out in a wave of liquidations.
According to CoinGlass , over $1.16 billion in crypto positions were liquidated in 24 hours, most of them longs.
Analyst Maartunn from CryptoQuant noted that US spot market traders are driving much of the current sell pressure. However, this could be an optimal time to buy DOGE.
DOGE Price Analysis: $1 or $0.1?
As per the 12H DOGE chart below, the meme coin has decisively broken below its mid-range channel support near $0.18.
The move signals renewed selling momentum that could extend toward successive supports at $0.16, $0.145, and $0.125, with a potential capitulation zone around $0.11.
The RSI has plunged to 24.01, indicating extreme oversold conditions that often precede short-term bounces.
The MACD remains negative but shows early signs of flattening, i.e., selling pressure might be exhausting.
Source: TradingView
If DOGE manages to hold above the $0.16 range and reclaims $0.18–$0.19, it could trigger a recovery phase targeting $0.26, and later the key resistance at $0.48.
A sustained bullish reversal would put the $1 price target back within reach.
Is This Crash a Buying Opportunity?
Historically, Dogecoin’s steep declines have often preceded massive rallies.
The current correction, despite its intensity, could be another setup for long-term accumulation, especially with RSI and volume levels mirroring early 2023 recovery patterns.
However, failure to defend $0.16 would expose the market to another leg down.
