Dogecoin has shown consistent bullish behavior, bouncing from the 0.382–0.5 Fibonacci retracement zone in recent price fluctuations. Meanwhile, breakout patterns from descending channels on the weekly chart align with these bullish reactions, indicating a strong upward trend.
Fibonacci Zones Are Areas of Strong Demand
As we can see from the post above, optimistic analyst Trader Tardigrade detailed Dogecoin's respect for key Fibonacci retracement levels. According to Tardigrade, Dogecoin has retraced to the 0.382–0.5 region during three major corrections, triggering bullish moves. These regions consistently act as strong support zones, allowing for the formation of higher highs and lower lows.
The first retracement occurred between $0.14844 (0.382) and $0.14564 (0.5) after an impulse move from $0.13001 to $0.16089. The analyst also points out that Dogecoin rebounded strongly from this area, forming a new high. The second correction followed a rally to $0.19305, with retracement dropping between $0.18061 and $0.17031, once again leading to a higher local peak.
The most recent retracement occurred after the swing high of $0.25952, returning to the mid-range of $0.21973 and $0.20648. The analyst notes that the Heikin Ashi candles show minimum wicks in these breakouts, indicating strong trending behavior. Each Fibonacci zone consistently aligns with visible buying pressure, confirming them as periodic accumulation points.
Descending Channel and Breakout Cycle
In addition to Fibonacci retracement levels, Trader Tardigrade also analyzed Dogecoin's breakout patterns from descending channels over the past two years. This analysis reveals three distinct channels on the weekly chart, each followed by significant bullish rallies.
The first channel extends from July to November 2023, with Dogecoin exploding and rising in early 2024. The second channel runs from January to April 2024, leading to a bullish peak near $0.22. The most recent channel stretches from October 2024 to April 2025, peaking with a breakout to $0.90 in May 2025. The analyst notes that every breakout follows lengthy weekly bearish candle phases, compressing prices before strong bullish moves.
Post-breakout gains continuously create stair-step growth patterns, with each rally exceeding the previous one in scale. The breakout in May 2025 represents the strongest vertical acceleration, reinforcing Dogecoin's cyclical bullish structure.
Tardigrade emphasizes the importance of maintaining support near $0.20648 to sustain the current bullish trend. His insights highlight Dogecoin's adherence to technical structures, providing opportunities for traders to capitalize on recurring patterns. By respecting Fibonacci retracement zones and effectively maintaining breakouts, Dogecoin continues to demonstrate a solid technical foundation for sustainable growth.