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Dogecoin (DOGE), probably the most popular meme coin, is once again testing what analyst Ali Martinez called a "historical buy zone." This is the same ascending range that has preceded every major upward cycle in DOGE's price history, including the crazy 2017 and 2021 breakouts.
The latest weekly figures suggest that DOGE is sitting just above $0.20, right on the lower boundary of a well-established parallel channel that has been around since 2015.
This zone has only been touched a few times in the last 10 years, but each time it has been the start of a big upward move — like a 9,237% rally in 2017, followed by a 13,337% breakout in 2021. In both cases, Dogecoin briefly stabilized near the bottom of the channel before shooting up to the top.
What is interesting is that the structure has not changed. Even though the crypto market has been all over the place and the narratives have been changing, DOGE has been holding this rising channel for over 10 years.
The latest touch — now the fourth since early 2023 — comes after a 243% rally earlier this cycle, also triggered from the same support region.
Resistance for DOGE
It looks like the resistance is still at $0.34 to $0.45, which is where the previous rallies lost momentum. But DOGE's current positioning suggests a good risk-to-reward ratio for those watching the big picture rather than daily headlines.
Historically, every time the market has tested this lower band, it has always moved in a new direction.
The next few weeks will be important to see if the trend keeps going and if DOGE can build on this. With the market getting more liquid and money moving into older altcoins, Dogecoin might be about to enter a phase it is familiar with — one that usually does not stay quiet for long.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team