The Dogecoin price has fallen 6% over the past 24 hours to trade at $0.1633 as of 2:42 a.m. EST, while trading volume shot up 115% to $3.5 billion.
This comes as Elon Musk renewed his DOGE moon mission pledge after tweeting “It’s time” on
It’s time 😀
— Elon Musk (@elonmusk) November 3, 2025
Musk’s fascination with Dogecoin has continued over the years, with his tweets repeatedly influencing its price.
He has continually referred to DOGE as the people’s crypto, supporting the idea that DOGE could become the currency of Mars.
Crypto ETFs are moving forward despite regulatory silence
In another development, Bitwise and Grayscale have announced management fees for their upcoming XRP and Dogecoin ETFs (exchange-traded funds), even though they have not yet received official approval from the US Securities and Exchange Commission (SEC).
Bitwise and Grayscale continue with the launch #Dogecoin ETFs without the green light from the SEC.
Disclosure of the 0.35% management fee. pic.twitter.com/Df09i9qnCM
— dogegod (@_dogegod_) November 4, 2025
The move to list their ETFs without waiting for SEC approval mirrors Grayscale’s recent move with its Solana ETF, which launched despite the lack of formal SEC approval.
Grayscale plans a 0.35% fee for both its XRP and Dogecoin ETFs, according to recent research. files.
Interestingly, the recent government shutdown and updated regulatory processes have opened an unexpected window for crypto companies to bring ETFs to market without having to deal with the usual procedural delays from the SEC.
If the ETFs are successfully launched, it could mark a new era for digital asset investing in the US, giving crypto companies more room to innovate despite continued regulatory uncertainty.
Dogecoin price under continued bearish pressure
After trying to reclaim the $0.30 range earlier this year, the DOGE Award has entered a sustained downtrend as it falls below the key Fibonacci support levels.
Dogecoin’s recent price action shows the token consolidating below significant resistance barriers, indicating continued bearish momentum in the broader market.
The decline started after DOGE failed to hold support above $0.20, triggering a deeper correction that pushed the price below both the 50-day and 200-day Simple Moving Averages (SMAs).
Currently, the 50-day SMA is around $0.2205, while the 200-day SMA is at $0.2095. The SMAs’ position confirms that sellers remain in control.
DOGE is trading near $0.1633 and hovering close to the key Fibonacci retracement level of 0.786 ($0.1714). A sustained close below this level increases the chances of a move towards the critical support zone between $0.14 and $0.15, where buyers previously managed to absorb heavy selling pressure.
Meanwhile, the daily chart’s Relative Strength Index (RSI) is around 31, indicating that DOGE is approaching oversold territory as it continues to experience persistent bearish pressure.
The Fibonacci retracement structure further highlights that the next potential resistance levels are near $0.17, followed by $0.205 and $0.22, all of which align with previous breakout zones and the overhead SMAs.
DOGE Price faces further downside risk
Based on the current technical outlook for the DOGE/USD, the DOGE price remains under intense bearish pressure in the near term.
With the RSI falling within the 30-oversold level, sellers continue to show their strength. Meanwhile, the 50-day SMA is approaching the 200-day SMA, and if it were to cross down, they would form a death cross, which could be an indication of an upcoming bearish trend.
If bearish momentum continues, Dogecoin could retest the $0.14 support, implying a potential 13% decline from current levels.
This comes as Ali Martinez, a popular crypto analyst with over 161,000 followers on
More than 1 billion Dogecoin $DOGE sold by whales in the past week! pic.twitter.com/pjUwFAqtEM
— Ali (@ali_charts) November 4, 2025
Conversely, a recovery above $0.17 could trigger a short-term recovery towards $0.20 (0.618 Fib level).
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