Dogecoin (DOGE) Likely to Face Consolidation During November's Bull Market

Dogecoin defied odds throughout October by recording a 40% increase in value but it is likely to face a correction in November. Meanwhile, Lunex Network's presale has raised more than $1.5 million which is making analysts predict a massive 100x rally on LNEX's official launch day.

Dogecoin (CRYPTO: DOGE) buying activity surged in October as investors showed renewed interest in meme coins.

After Dogecoin price surged by 40% in October, analysts are predicting a minor correction in November.

Dogecoin price is likely to correct to the $0.1117 pivot in the next few days as Dogecoin has also entered the overbought zone on the DOGE/USDT daily chart.

Dogecoin price is currently trading at $0.1697 with a 2.49% intra-day increase.

Dogecoin’s volume has decreased by 9.41% over the last 24 hours, which usually indicates lower investor confidence.

Dogecoin's buying activity slowed down after a 2.49% intra-day increase and brought Dogecoin price to the $0.1697 level.

Dogecoin price surged by 40% in October as investors showed renewed interest in meme coins. However, Dogecoin's price is likely to correct after surging to the overbought zone on the DOGE/USDT daily chart.

Dogecoin price is currently trading at the 20-day moving average after facing a minor rejection at the 50-day moving average.

Dogecoin's buying momentum has also slowed down as the Relative Strength Index (RSI) dropped to the 48.06 mark.

Dogecoin's price is likely to crash to the $0.1117 after breaking below the 20-day moving average.

A pivot Fib extension on the DOGE/USDT daily chart also shows the $0.1117 as the first Fib support level.

On the other hand, Dogecoin price is likely to face resistance at the 50-day moving average after bouncing off the 20-day moving average.

Dogecoin's price may continue to rise if it manages to break above the 50-day moving average.

Dogecoin's price may continue to rise if it manages to break above the 50-day moving average. However, a strong resistance is likely to be encountered at the 100-day moving average.

Dogecoin's price may continue to rise if it manages to break above the 100-day moving average.

Dogecoin's price may then continue to rise towards the $0.2444 resistance level.

Dogecoin's technical outlook for the next week is bearish as the meme coin is likely to correct after surging to the overbought zone on the DOGE/USDT daily chart.

Dogecoin's price is likely to correct after breaking below the 20-day moving average.

Dogecoin's price may continue to fall until it reaches the $0.1117 Fib support level.