Dogecoin (DOGE) whales have offloaded a staggering $440 million worth of DOGE in the 72 hours leading up to Halloween. This move has drastically dampened bullish Dogecoin price drop forecast for November. Hopes of an “Uptober” for the memecoin have failed to materialize, carrying bearish sentiment into the new month. Doge’s most convinced holders are now taking flight.
The immense pressure from Doge’s most influential players has left bulls unable to defend a key demand zone at $0.18. This effectively invalidated an ascending channel setup that once targeted $0.26-$0.33. The next structurally important support lies far lower, around $0.07. This zone would represent a deep unwinding of recent gains and a return to pre-bull market levels.
However, Dogecoin could be in for an early bailout from Ali’s bearish outlook. Historical strong demand zones hint at a possible bottom. Past strong demand zones at $0.12 and $0.09 may be more natural cool-off points. They would limit losses to 30% or 50% respectively. This is particularly plausible as momentum indicators show sell pressure fading.
Could Dogecoin’s current weakness be a bear trap before a massive rebound?
While the MACD histogram’s move below the signal line points to a fresh downtrend, the RSI nears the 30 oversold threshold. This zone has historically marked bottoms for Dogecoin price corrections. A bounce here could invalidate the current breakdown. This would restore Dogecoin’s ascending channel structure. Moreover, it would set up a potential 190% rally toward $0.50 if momentum turns bullish again.
Fundamentals support this scenario. Continued U.S. interest rate easing is expected. This is to stimulate risk appetite. New touch points for demand through spot DOGE ETFs are also anticipated. However, as memecoins struggle, the ICO project SUBBD ($SUBBD) is catching early attention. It’s an AI-powered content platform aiming to redefine an economy worth $85 billion. This platform gives fans true access and creators better monetization tools.
By cutting out the middleman, SUBBD returns power to the people who actually create value. This allows creators to own their audiences and their income. These perks extend to fans in an access-driven ecosystem. Token-gated content, discounts, and early access allow supporters to engage with their favorites in a meaningful way. The long-standing problem is finally being addressed. Investors are taking notice, as the presale has already approached $1 million in funding.
