😴 Dogecoin Slows Down — Is It Playing Dead or Plotting a Surprise Move?
In mid-June's late-cycle calm, experienced market specialist Tony “The Bull” Severino, CMT, produced a monthly Dogecoin (DOGE) chart that implies the meme-coin's exuberant bark may be winding down.
Does Dogecoin Play Dead?
The first arrow on the price pane points to January 2018, when DOGE briefly touched two cents before giving up most of its gains. The second arrow shows the May 2021 ecstatic jump to slightly under 70 cents, followed by a two-year decline. The third arrow lies on the most recent cluster of lower monthly highs that peaked just under $0.26 last month and fell below the crucial twenty-cent mark.
The setup resembles the early phases of the 2018 and 2022 downturns, which Severino marked with arrows. He said the monthly oscillator “looks like it wants to roll over and play dead,” suggesting the crossing may signal a further pullback near historical support zones.
DOGE is structurally caught between the preceding cycle's bottom at five cents and overhead resistance at the late-202 swing high about $0.48. The LMACD's declining momentum implies bears remain in control until new demand soon invalidates the bearish crossing. A convincing closing below the April low of $0.13 would enter vacuum-like terrain as low as $0.0491, the cycle bottom.
Severino's technical analysis comes at a time when crypto liquidity is thinning ahead of the summer doldrums and risk appetite is fatigued across digital assets due to postponed US Federal Reserve rate cuts and geopolitical tensions between Israel and Iran.
Long-term traders who value momentum over memes like the monthly crossover more than popular tweets. Every time the LMACD coiled over from a high peak, Dogecoin holders have seen history repeat itself unsettlingly.
Whether the canine-themed currency has taken a longer snooze or just halted before further tail-wagging conjecture depends on how pricing responds if the histogram worsens in the coming months.
