Dogecoin has printed back-to-back buy signals on the weekly TD Sequential indicator, a setup that analyst Ali Martinez called rare enough to hint at a major bull rally approaching. It has not happened yet. Daily trading volume dropped 20% in 24 hours, the coin closed the day flat, and the weekly return sat at minus 0.94%. Open Interest barely moved, shedding just 1.1% in a day.
Elon Musk added a small footnote to the story by liking a DOGE-related memecoin post on X, the first such interaction since he last engaged with Dogecoin content directly, according to Whale Insider. Traders noticed, then moved on.
Where the chart stands
DOGE held the $0.088 support zone after February's drop, and in May buyers pushed hard enough to briefly test the $0.12 resistance. Spot taker buy volume spiked during those days, the first real demand signal since the December-to-March window when buyers dominated the market. Then Bitcoin got rejected from $82.5k, pulled the broader market lower, and the DOGE bid evaporated. Right now DOGE trades 17% below that $0.088 level, which used to be support and is now overhead resistance.
The spot taker CVD for the past three months shows sell pressure is not yet dominant, but buyers have clearly stepped back. A short squeeze toward $0.08, flagged by AMBCrypto a week ago based on the liquidation map, has not played out. The swing structure on the daily reads bearish. A technical bounce toward the Fibonacci golden pocket at $0.083-$0.087 is still on the table, and $0.075 is acting as resistance on lower timeframes. Local highs at $0.078 are the nearest level traders are watching to position short, or to wait for a golden pocket retest before acting.
Bitcoin holds the key
DOGE's next move is almost entirely conditional on BTC. A clean break above $67.2k on Bitcoin opens a path toward $77k and would likely pull Dogecoin into a short-term bounce. A drop below $62.5k, on the other hand, would remove the floor and make new swing lows the base case for DOGE, with no meaningful bounce expected along the way.
DOGE options desks stayed quiet on the move, and spot volume remains thin.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
