Dogecoin (DOGE) experienced a sharp 5% decline this Tuesday, November 4, 2025, breaking through crucial support zones to trade at $0.16. The session was marked by intense institutional selling pressure. Blockchain data confirmed significant distribution by large holders, known as “whales,” as traders struggled to defend key psychological levels. The Dogecoin price downtrend was consolidated following the move.
The details of the event show the magnitude of the sell-off. The cryptocurrency failed to hold the $0.18 psychological support level at the opening. This triggered selling pressure that intensified throughout the day. The most critical moment occurred at 20:00 GMT. Trading volume spiked to 2.05 billion tokens, an impressive 94% above the daily average. This massive volume pushed the price to break the $0.1590 floor. Furthermore, on-chain data corroborated the institutional sell-off, recording $440 million in DOGE outflows from large-holder wallets.
The asset reached a session low of $0.1528 before finding buyers in the $0.1550 zone. However, recovery attempts were limited. Resistance was confirmed near $0.1700, a level that had previously served as support. Although a brief V-shaped rebound appeared on short-term charts, it failed to sustain momentum. The price consolidated below $0.1620, indicating that sellers remained in control.
Is this massive sell-off the start of a deeper bearish cycle for DOGE?
From a technical perspective, the outlook for Dogecoin remains bearish. The asset continues to trade in a “lower-highs, lower-lows” formation. This maintains clear negative momentum within a broader descending structure. Analysts note that the rebound from the low was corrective, not directional. It resembles a classic “breakdown-pause” sequence typical of distribution cycles. Momentum oscillators remain negative on hourly timeframes.
Traders are now closely watching immediate levels. The $0.1550 to $0.1555 area is acting as short-term support. A break below this level would expose DOGE to deeper supports, between $0.1520 and $0.1500, where larger liquidity pools exist. Conversely, to signal relief, the Dogecoin price downtrend would need a sustained recovery above $0.1650. However, intraday action suggests that distribution is ongoing, with limited momentum for a sustainable recovery.
