Dogecoin News Update: Is DOGE's $0.17 Support a Saving Grace or a Final Blow for Memecoins?

Dogecoin (DOGE) and

(NEAR) are facing downward pressure as the overall crypto market experiences renewed bearish trends, leading to discussions about whether this slump is a buying chance or signals a more significant correction . , the largest by total value, has dropped below $0.1730— if support fails to hold. At the same time, NEAR Protocol is hovering near crucial support zones as on-chain indicators send mixed signals, with some metrics pointing to a possible recovery .

Dogecoin’s recent losses are driven by changes in on-chain data and evolving investor sentiment.

that the Mean Coin Age—which measures the average holding period of tokens—has fallen to 375 days from 404 days in early November, suggesting that long-term holders are selling. This is further emphasized by , which surged to 693.07 million in a single day, marking the highest jump since May. that DOGE futures Open Interest (OI) has shrunk to $1.43 billion from $1.48 billion a few days ago, indicating a pullback in speculative trading.

The negative trend has been intensified by technical failures.

the $0.18527 resistance, a major supply area from October, resulting in a 5% drop on Tuesday. that the price has formed a “lower-high, lower-low” structure, which is typically bearish. Market observer Kevin (@Kev_Capital_TA) cautions that a crucial support, and a breakdown could expose the $0.1650–$0.1600 range.

By contrast, NEAR Protocol is showing early signs of steadying.

have climbed to $182.1 million from $105.5 million at the end of October, signaling increased activity in the ecosystem. a rise in whale transactions, while Coinglass funding rates have turned positive at 0.0079%, indicating that bullish traders are gaining momentum. NEAR’s price recently bounced back above $2.57 after retesting its 200-day EMA, and bulls are now targeting a move toward the September peak of $3.34 if support holds.

The overall market environment remains tough.

leading cryptocurrencies by 5%, heightening risk-averse attitudes. that DOGE is at a pivotal point, with buyers needing to push the price above the 20-day EMA ($0.18) to reverse the bearish trend. However, institutional trading data indicates , suggesting a technical bounce could occur if trading volumes decrease.

There is division among investors about whether these declines offer attractive entry points. While Dogecoin’s fundamentals are still speculative,

a possible short-term recovery if the $0.17 support remains intact. Meanwhile, NEAR’s rising TVL and positive funding rates , though reaching $3.34 will require sustained buying interest. For now, market participants are closely watching Bitcoin’s trajectory, that further declines could reinforce the bearish outlook for both memecoins.