Dogecoin Accumulation Begins After Months of Selling Pressure

Dogecoin is trading at 0.1957 as the meme coin consolidates after several weeks of volatile price action. The token faces resistance from multiple technical barriers, and recent on-chain data suggest that accumulation may be underway following years of selling pressure in 2025.

The cryptocurrency remains below its 0.236 Fibonacci retracement at $0.2025, following a backlash from its previous high of $0.2889 in the previous trading activities. Price action depicts the DOGE stuck between its 20, 50, 100, and 200-period exponential moving averages, which lie between 0.1941 and 0.2238. The 20 EMA is already the major resistance level.

DOGE Price Dynamics (Source: TradingView)

The support is at 0.1758, which is a recent swing low and is an established demand zone. Breaching the price of $0.2190 would push the price to hit the 50% and 0.618 Fibonacci retracement at $0.2323 and 0.2457. Analysts observe that a definite close above 0.26 would only indicate a lasting reversal of the bullish trend.

Derivatives Activity Points to Renewed Interest

Open interest in Dogecoin futures declined sharply from over $6 billion earlier in 2025 to below $2 billion in recent months. As of October 23, open interest has been restored to approximately $1.73 billion, representing a modest recovery. The improvement shows that traders are taking leveraged positions in anticipation of a possible price change.

Historical trends where increases in open interest precede market bottoms are often followed by significant directional changes, a factor that market observers cite to support their view. Sustained levels above $2 billion validate growing bullish sentiment, while a decline below $1.5 billion might signal reduced market participation.

Momentum indicators indicate declining selling pressure, although the flattened EMAs suggest trader indecisiveness. Any clean break above $0.20 would indicate early bullish action, and failure to hold the $0.19 level would result in a rejection of the $0.175 support.

Source: Coinglass

Exchange Data Reveals Shift in Market Sentiment

The technical structure positions Dogecoin at a critical juncture. Immediate upside targets include $0.2025, $0.2190, and $0.2323. Extended gains could push toward $0.26–$0.27, aligning with the 0.786 Fibonacci zone. On the downside, support at $0.1890 precedes the key demand zone at $0.1758. A break below $0.1750 would expose the token to further retracement toward $0.1650.

Source: Coinglass

Exchange flow measures indicate a significant shift in trader behavior. Dogecoin has exhibited negative netflows in most of 2025, indicating that distribution is occurring. Nevertheless, the data from October 23 reveals that the net inflow of money into exchanges was positive at $8.46 million, indicating that buying interest is recovering.

The last several months have been marked by massive outflows, accompanied by steep price increases. The recent reversal to positive inflows indicates potential accumulation near current price levels. This shift occurred with the announcement of KuPool, a new mining pool supporting Dogecoin, Litecoin, and Bitcoin by KuCoin. The project will enhance the stability of mining operations and foster community engagement to support local networks.

The technical structure positions Dogecoin at a critical phase. Immediate upward targets are $0.2025, $0.2190, and $0.2323. Extended gains could push toward $0.26–$0.27, aligning with the 0.786 Fibonacci zone. On the downside, support at $0.1890 precedes the key demand zone at $0.1758. A break below $0.1750 would expose the token to further retracement toward $0.1650.