Dogecoin News: DOGE Revisits Historic Support Zone as Analyst Flags Repeat Cycle

Dogecoin traded near $0.10 on a weekly time frame as an analyst pointed to a historical price zone linked to past parabolic rallies and framed the move as a potential re-accumulation phase. The analysis, shared on X by Crypto Patel, focused on Dogecoin’s weekly and two-week chart structure and its interaction with a multi-year demand zone.

According to the post, Dogecoin now sits in the same price range that preceded a sharp rally during the 2021 market cycle, when the token recorded gains exceeding 17,000%.

The analyst stated that the asset trades within a macro demand zone between $0.10 and $0.06, which has acted as support since 2021 across multiple market cycles.

Multi-Year Demand Zone and Cycle Reset Conditions

The chart shared alongside the commentary shows Dogecoin respecting a long-term support band that has remained intact for several years despite sharp drawdowns. Crypto Patel noted that Dogecoin is down roughly 87% from its all-time high, a level described as consistent with previous cycle reset conditions.

Each prior interaction with this zone resulted in strong upside moves, based on historical price action shown on the weekly and two-week charts. The post referenced two past expansions from similar structures, including the 2021 rally of over 17,000% and a 2024 rally estimated near 600%.

Does repeated interaction with the same demand zone increase the probability of another expansion phase?

Price Targets and Defined Invalidation Level

Based on historical extensions, the analyst outlined three price targets tied to a full market cycle move, listing $0.50, $1.50, and $4.00 as projected levels. The full-cycle extension was described as roughly 5,500% from the current zone, derived from prior expansion ranges visible on the chart.

The analysis also defined a clear invalidation level, stating that a weekly close below $0.06 would negate the accumulation thesis. By including a fixed downside threshold, the post framed the setup as one with both upside projections and explicit risk parameters.

Fundamental Reference Linked to SpaceX Statement

The post mentioned a permanent driving force that resulted from a public announcement that involved both Elon Musk and SpaceX. The analyst reported that Musk had confirmed SpaceX's intention to launch a real Dogecoin token to the Moon, which Musk had already mentioned in earlier public discussions. 

The statement existed as a symbolic development that the authors presented as an element that would drive sustained interest in the story. The post ended by restating that the analysis did not provide financial advice, while it encouraged readers to conduct their own research, and it explained how institutional accumulation patterns differ from retail investment patterns.

Read More: Is Dogecoin Still Worth Investing in or a Bubble About to Burst?

Conclusion:

Dogecoin trades within a long-term accumulation zone as the weekly chart reflects historical patterns seen before past rallies. The setup includes defined support between $0.10 and $0.06, clear invalidation below $0.06, and cycle-based price targets. Market participants continue to monitor structure and risk levels.