Dogecoin to the Moon? 🚀 Or Just Barking at It? 🐶
Right, so Dogecoin, that’s the one with the doge, not to be confused with an actual dog, which would probably be more useful. Anyway, it took a bit of a tumble last week, down near \$0.168, which, let’s be honest, sounds like something you’d pay for a slightly stale biscuit. But then, like a startled goblin, it jumped back up to around \$0.19 this Tuesday morning. Six percent, they say. Six percent! As if anyone can actually measure these things with a straight face.
Dogecoin Needs To Conquer This Price Level
Now, some fellow called Kevin (@Kev_Capital_TA, because everyone’s a critic these days) reckons that some Fib defence – sounds like a medieval shield, doesn’t it? – has made things all bullish again. Up to a point, mind you. Seems Dogecoin found support next to Bitcoin finding support at 100K, which is a lot of money to find under your sofa cushions. But DOGE, bless its cotton socks, has “a lot of work to do.” Apparently, there’s a “big resistance” at .19-.21 cents. If it can clamber over that, then maybe, just maybe, it’ll get to .26-.28. The indicators, whatever they are, look bullish. So that’s alright then.
Bitcoin, it seems, is still calling the shots. It’s near \$109,000, having fended off an attack at \$106,800. Michael van de Poppe (another one!) calls it the “linchpin for a potential rally.” If Bitcoin goes to \$120,000-\$130,000, then Dogecoin might, Kevin hopes, stop being quite so clingy, especially “when dominance tops and the market sniffs out easing monetary policy.” Which sounds like something that happens in a wizard’s bathroom, if you ask me.
Chandler (“@ChandlerCharts”), however, is less convinced. He’s got graphs and charts and things, showing how Dogecoin always fails to keep up with Bitcoin.
“Even if DOGE breaks above its November highs, it won’t feel great if DOGE/BTC ends up way lower than it was at the November highs,” he cautioned. Chandler calculates that with BTC at \$107,600, Dogecoin would have to cough up roughly \$0.52 simply to reach a higher high against Bitcoin. “If BTC runs to \$120-130k, DOGE needs to be around \$0.60+ for holding DOGE to make sense over BTC.”
So, the magic numbers are \$0.19-\$0.21. Kevin thinks it’s a Fib cluster (whatever that is), Chandler says it’s the top of an eighteen-month value area. Get above \$0.211, and maybe, just maybe, Dogecoin can have another go at \$0.2597.
For now, keep your eyes on \$106,800 for Bitcoin, and \$0.21 for Dogecoin. If Dogecoin can break free, then Kevin’s happy path to \$0.26-\$0.28 might just happen. Until then, Dogecoin is stuck “in the hands of BTC’s capability in heading higher.” Which is a polite way of saying it’s anyone’s guess 🤷.
And as I scribble this down, DOGE is changing hands at \$0.19. Make of that what you will 🤔.
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2025-06-10 19:19