Dogecoin has struggled to find support in recent days, falling below $0.15 and now at risk of losing the $0.14 level, adding pressure to an already weakened structure. Notably, Dogecoin’s weekly chart shows the cryptocurrency approaching the lower boundary of its long-term channel. This setup is the basis of a new analysis from crypto analyst ÐOGECAPITAL, who argues that Dogecoin is now sitting in the same zone that preceded its strongest rallies in past cycles. His chart, which accompanies the post, highlights how Dogecoin is still on track for a 6,500% price surge. Dogecoin’s Long-Term Channel At Opportunity Zone In his post, ÐOGECAPITAL noted that Dogecoin is currently sitting within the lowest 5% of its long-term uptrend channel that goes as far back as 2014. Only a handful of moments in the past decade have featured price action this low relative to the trend, and each instance preceded some of Dogecoin’s strongest cycles. Related Reading: Dogecoin Cup And Handle Pattern Is Returning, What Happens To Price If It’s Completed? The chart provided by the analyst, which is also shown below, marks the 2017 and 2021 surges with arrows showing how the price rebounded sharply each time it touched or hovered near this line before exploding upward. The same setup is forming again. The channel lines reflect years of higher highs and higher lows despite market cycles, and the most recent decline appears to be pressing against a region that has defined Dogecoin’s resilience. Even though the drop below $0.15 appears concerning on lower timeframes, the long-term structure shows Dogecoin retesting an area that has repeatedly served as a launchpad. Two Possible Paths DOGE Could Take From Here The analyst described two broad paths that Dogecoin may follow from its current position. His first scenario points to a strong rebound that begins at or just below current levels. Related Reading: Analyst Suggests Selling Bitcoin To Buy Dogecoin, Here’s Why If this behavior repeats the pattern of earlier cycles, Dogecoin could reverse from the lower channel line and start climbing gradually toward the mid-range of the channel. His second scenario outlines a slower recovery. Instead of a sudden surge, Dogecoin could extend its sideways movement along the lower boundary for several weeks or months. This would be a continuation of its current “crabwalking” structure, maintaining support but postponing any dramatic breakout. Such a path would still lead to upward progression but would produce a more extended market cycle without the blow-off top seen in previous rallies. Both scenarios outline an outlook where Dogecoin enters into an upward move that reaches as high as $10. The critical point is that both scenarios assume Dogecoin will maintain its structural support. Losing $0.14 would test the lower channel boundary more aggressively, but the broader pattern suggests that price is still trading within the same long-term framework that has been intact since 2014. At the time of writing, Dogecoin is trading at $0.141, down by 10.5% in the past 24 hours. Featured image from Getty Images, chart from Tradingview.com
