I Wrote DOGE Off — Then Its Chart Flipped Last Week

Eight days ago I wrote that DOGE had the worst-looking chart of anything I'd been watching. It was printing new lows on its own and OBV kept bleeding, so I said it had to reclaim 0.079 before we could even start the conversation — and now it's at 0.0925. I was wrong and the market was right.

It didn't just rise; it cleared two lines. The daily downtrend that capped every bounce all summer broke on 8/19, and what mattered more was the one above it. The weekly downtrend running eight months from the January high passed near 0.088 last week, and on 8/21 DOGE closed above it. An eight-month line rarely breaks, and when it does the character of the chart changes, so this is hard to ignore. The weekly chart below shows it at a glance.

Volume showed up this time, too. Over two days, 8/21–22, the biggest volume in three months came in, and OBV, which had only been falling, has been making higher lows through August. What bothered me most in the last post was that volume never showed up even on bounce days — and that has changed.

The key zone in this setup is 0.0866–0.0885, right below the current price. It's where the weekly line just broken passes through, and it's also where leveraged longs are trapped, so a lot overlaps there. If DOGE gives that back on a daily close, the eight-month breakout has to be treated as fake, and I'm back on the sidelines. Above, there's overhead supply at 0.0937, and 0.0991 is the 50% retracement of this decline, so expect it to bump into resistance once before 0.1.

I've said memecoins move at the tail end of a rally, and with BTC just below 80K and ETH also at its gate, the sequencing isn't bad. Still, this is the first change of direction in eight months, so there's no need to rush. Good luck out there~