Dogecoin Eyes Recovery After October Slump

Dogecoin (DOGE) is attempting to recover after a difficult October. The popular meme cryptocurrency has been trading sideways day after day, but on a monthly scale, it’s down nearly 30%.

Following a disappointing October that fell short of investors’ hopes for another bullish month, November could prove to be a turning point. According to analyst Ali Martinez, DOGE still has significant potential for a rebound — as long as it holds above a key support level.

Martinez highlights the $0.18 mark as a critical line of defense. In his view, if the price remains above that threshold, Dogecoin could enter an attractive buying zone. Under those conditions, he predicts possible gains toward $0.26 or even $0.33. It’s worth noting that DOGE reached the first of those levels in September and October, while the second was last seen in January.

At the moment, the price remains above $0.18, though it has tested that level several times. Meanwhile, resistance at around $0.22 continues to block further upward movement. Another concern is the behavior of so-called “whales” — large DOGE holders. Over the past three days, they’ve sold a combined 440 million tokens, increasing selling pressure and potentially discouraging smaller investors.

Dogecoin’s RSI currently stands at 46 points, which places it in neutral territory — neither overbought nor oversold. The outlook remains uncertain, and the coin’s next moves will largely depend on whether it can hold the key support level and how major holders choose to act.