Dogecoin’s (DOGE) Bullish Pattern Gives Hope After 70% Price Drop

Key Takeaways

• Dogecoin (DOGE) fell by 70% after its cycle high.
• DOGE broke down from the $0.215 support area.
• When will Dogecoin’s price create a local low?
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Dogecoin (DOGE) posted modest gains at the start of 2024, lagging behind other meme coins. This all changed in November, when the price increased over 200% in a month, reaching its cycle high of $0.479.

However, 2025 has painted a different picture. The price created a lower high and accelerated its decline, leading to a low of $0.142 on March 11.

Now, after a 70% price decline, DOGE bulls are optimistic because a bullish pattern has been created. Let’s look at the charts and see where this will lead.

DOGE Falls Below Support

The weekly time chart shows that DOGE has fallen since its cycle high of $0.484. The downward movement caused a breakdown from the $0.215 horizontal support area, leading to a low of $0.142 this week.

The $0.215 area is critical since it acted as resistance in March 2024 (red icon) and became support in December 2025 (green icons). So, its breakdown signals that Dogecoin’s upward movement has ended.

If the decline continues, the next closest support will be $0.110.

Technical indicators are bearish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are falling.

The RSI is below 50, while the MACD has made a bearish cross (black circle), both signs of a bearish trend.

As a result, the weekly time frame suggests the meme coin will eventually drop to the $0.110 horizontal support area.

Dogecoin Price Breakout?

The daily time frame gives a more bullish prediction for Dogecoin, predicting a short-term rally. Dogecoin is currently trading inside a descending wedge, which is considered a bullish pattern.

Since the price is nearing the end of the wedge, it has the potential to break out soon. If that happens, the closest resistance area will be at $0.275, a horizontal resistance, and the 0.382 Fibonacci retracement resistance level.

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While the proposed breakout would take the DOGE price above the long-term $0.210 level, Dogecoin would have to reach a weekly close above it to confirm the bullish trend reversal.

Technical indicators support the breakout. The RSI and MACD have generated bullish divergences (orange), increasing the likelihood that DOGE will break out from the wedge.

Because of the bearish long-term readings, the breakout would likely be a relief rally followed by another downward movement.

The wave count aligns with this possibility. It shows that the movement inside the channel is a five-wave decrease (red), making it a leading diagonal, possibly creating wave A (black).

The proposed breakout will likely be wave B in an A-B-C structure, after which another Dogecoin price decline will follow.

Relief Rally Before New Lows

The Dogecoin price showed bearish signs by breaking from a long-term horizontal support level of $0.215.

While the short-term readings suggest a breakout is likely, the long-term trend remains bearish until DOGE reaches a weekly close above $0.215.