Dogecoin Hits Weekly Support Trendline, Analyst Signals Cycle Bottom Is In
The recent price decline action has led to a recent multimonth low for the entire market last week. However, technical analysis by analyst Trader Tardigrade shows Dogecoin There may already be Established its cycle bottom before the next price rises.
Dogecoin tests 40% drop in weekly key support
Cryptocurrency Market Facing a major recession Last week, general losses lost a variety of digital assets. Dogecoin is no exception, sold Sharply drops by nearly 40% Before looking for support for $0.22. This drop marks the lowest price reached by Dogecoin since early 2025, and the last time that level was traded at this level was in early November 2024.
Related Readings
Despite the severity of the decline, technical analysis by crypto analyst Trader Tardigrade shows that Dogecoin’s recent 2025 lows may be more important than at first glance. In a social media post on Platform X, analysts shared weekly time-frame charts, highlighting that $0.22 is part of the key trend line, playing a crucial role in Dogecoin’s price movements in 2024.
Now, as prices return to this level and bounce, Trader Tardigrade notes that the trend line appears to have moved to a strong support zone.
As of now, Dogecoin has rebounded to $0.2561, reflecting a positive reaction from its recent low of about 16%. especially, Data from the chain Intotheblock shows that buyers have entered the stage near this support level. However, Dogecoin’s ability to exceed this support level in the next few weeks will determine whether a cryptocurrency exists or not It’s indeed reached the bottom In the rest of the cycle.
image From X: Trader Tardigrade
Historical callback points to a $2 price target
In another analysisTrader Tardigrade highlights a regular pattern in which Dogecoin’s price tends to experience a significant pullback of more than 50% after a strong multi-month rally. However, these callbacks are always accompanied by another powerful rebounding rally, and Dogecoin finally hits a new peak.
His analysis points to three major pullbacks: the first fell 59.76%, the second fell 56.2%, while the recent rebound fell 58.25%. Based on this historical behavior, Tardigrade points to recent corrections Probably accompanied Another powerful rebound.
This rebound finally occurred, with Dogecoin increasing by 23,000% to reach its current historical height of $0.73. From here, Trader Tardigrade predicts similar competition will reach its $2 target.
image From X: Trader Tardigrade
Related Readings
The goal of $2 is the repeated predictions of Dogecoin by crypto analysts. one Similar predictions come from Crypto analyst Dima Potts predicts Dogecoin is ready to target an all-time high of $1.50 to $2.10. Currently, the first step for bullish Dogecoin is to exceed $0.3.
Featured images from Mudrex, charts from TradingView
