Will Dogecoin (DOGE) Price Rebound in November?

Dogecoin climbed 4% on Friday, outperforming broader markets that showed little movement.

At press time, the meme coin was trading higher compared to Thursday’s close, while the S&P 500 remained flat and the Nasdaq Composite edged up 0.3%. The move comes as investors continue to weigh broader macroeconomic uncertainties and mixed signals from the Federal Reserve.

Sharp decline in DOGE Open Interest and volume

Despite the price increase, derivatives data indicates that Dogecoin’s momentum may be waning. According to CoinGlass, both open interest and trading volume for DOGE futures have dropped sharply.

Total open interest has fallen more than 65% from its October 7 peak of $5.03 billion to $1.70 billion on November 1.

Similarly, total trading volume has plummeted 74% since October 11, when it reached $20.45 billion in the aftermath of the crypto flash crash. As of November 1, trading volume stands at just $1.34 billion, marking a 51% decline in 24 hours.

Despite the massive pullback, institutional traders appear cautiously optimistic mid-term. The growing demand for crypto exchange-traded funds (ETFs) has further supported optimism, as asset managers like 21Shares reportedly seek to launch a spot Dogecoin ETF.

Dogecoin price prediction

Momentum indicators point to neutral conditions. The Relative Strength Index (RSI) hovers around 52, while the Moving Average Convergence Divergence (MACD) shows mild positive divergence. This suggests that the market may be in an accumulation phase rather than a speculative surge.

However, Dogecoin continues to face strong resistance levels. The cryptocurrency remains trapped below both its 100-day and 200-day exponential moving averages (EMA), which turned into resistance zones following October’s correction.

A breakdown below $0.18 could trigger further losses, potentially sending DOGE back to the $0.16–$0.15 range and erasing most of its 2025 recovery gains.

While Dogecoin has managed a modest short-term rebound, the broader trend remains uncertain. The coming days could determine whether the meme coin’s latest rally signals a true recovery or merely a temporary pause before further downside.