A leading crypto analyst has further expressed their confidence that Dogecoin could be set for a bullish run in the current market cycle. This comes thanks to renewed buyer interest in the coin following its recent drop.
Dogecoin (DOGE) is showing signs of a major price move as its weekly trading range narrows to levels not seen since late 2023. The meme cryptocurrency is currently experiencing one of its tightest Bollinger Band compressions in nearly three years, a technical signal often associated with increased volatility and potential trend reversals.
With heightened bearish pressure continuing to impact Dogecoin's price action, investors are now discussing and showing concerns about when the meme coin could bottom out. However, a crucial signal has recently emerged from a key metric, suggesting that DOGE's market bottom may be taking shape.
A record narrowing of Dogecoin's (DOGE) weekly price range not seen since autumn 2023 has been recorded for the meme coin, coinciding with a drop to 2-year lows. The compression reached its peak exactly four days before the SpaceX IPO scheduled for Friday, June 12.
Dogecoin price holds long-term support as DOGE enters an accumulation zone, while weak momentum keeps resistance in focus.
Dogecoin started a recovery wave above the $0.0820 zone against the US Dollar. DOGE is now facing hurdles near $0.090 and might struggle to continue higher.
Dogecoin is trading below $0.09 at the time of writing, which places it more than 88% from its May 2021 all-time high of $0.74, and overlooked in a market that has spent most of 2026 rotating around Bitcoin, Ethereum and XRP. However, crypto analyst Javon Marks sees something in DOGE's long-term chart that most traders are missing: a repeating pattern of increasing alt season performances that, if it holds, points to a target above $20 for the meme coin.
Dogecoin (DOGE) continued its downward trend this week, falling 18% between June 1 and June 6 to trade around $0.082. The decline comes despite growing attention around SpaceXs highly anticipated IPO scheduled for June 12, an event that some investors expected would boost interest in the popular meme coin.
Dogecoin has fallen to its lowest level in years after a decisive breakdown from a multi-year head-and-shoulders pattern added fresh selling pressure during the latest crypto market rout. According to crypto.news data, Dogecoin (DOGE) price traded near $0.
Dogecoin price faces long-term resistance as DOGE buyers defend key support and target a short-term rebound setup.
A cryptocurrency analyst has pointed out how Dogecoin has returned to the support level of a Parallel Channel following the latest market decline. Dogecoin Is Potentially Following A Parallel Channel In a new post on X, analyst Ali Martinez has talked about how Dogecoin is currently trading with respect to a Parallel Channel.
Dogecoin reached the $0.0883 downside target and moved into a key support zone near the lower boundary of its channel. Buyers are watching the $0.084 to $0.080 band, while recovery targets sit near $0.1019 and $0.1156 if support holds. Momentum remains weak, with MACD negative and RSI near 21.49, while a break below $0.