Dogecoin Rebounds, but Weak Demand and Resistance Weigh

| coinjournal.net
Dogecoin (DOGE) recovered from an intraday low near $0.080 to about $0.084 on Tuesday, then traded near $0.077 on Thursday after extending its rebound for a second session. The latest price is above the four-hour 50-period EMA near $0.0762, but faces descending trendline resistance around $0.0786. A sustained break could bring $0.0806 into focus; slipping below the EMA may expose support near $0.0723 and $0.0677. Demand signals remain weak. DOGE futures open interest fell to $1.06 billion on Thursday from $1.18 billion on Monday, and Dogecoin-focused ETFs have recorded no fresh inflows since October 14. An earlier report cited $399,460 in ETF net outflows on Monday. Falling open interest may reflect reduced leverage or short covering, rather than a clear return of buyers. Large wallets holding over 100 million DOGE controlled 69.74% of circulating supply, down from 70.02% on September 1; this change does not establish that tokens were sold. Short-term indicators have improved, with the four-hour RSI near 58 and MACD marginally positive. However, DOGE remains below its 50-day and 200-day EMAs at $0.0876 and $0.0923, while the earlier daily RSI near 39 and negative MACD pointed to weak momentum. Traders are watching whether DOGE can clear $0.0786 and sustain demand; failure to do so would leave downside supports in focus.
Bearish
The overall price and demand picture remains cautious despite the short-term rebound. DOGE has recovered from its earlier low and its four-hour RSI and MACD have improved, which may encourage short-term buyers if price breaks above $0.0786. But the rebound has not yet attracted clear new participation: futures open interest has declined, ETF inflows have been absent, and DOGE remains below its 50-day and 200-day EMAs. These factors leave the recovery vulnerable to profit-taking or renewed selling, with $0.0723 and $0.0677 as nearby support levels. Over a longer horizon, sustained ETF demand and a move above the key daily averages would be needed to improve the outlook; declining whale supply concentration alone is not proof of selling or a reliable directional signal. On balance, the indicators favor a bearish classification, while acknowledging that a confirmed resistance breakout could improve short-term sentiment.