Dogecoin has been showing strong momentum lately, trading around $0.20 on Friday with a weekly gain of about 17%. Its 24-hour trading volume topped $2 billion as market participants reacted to a late June livestream by technical analyst Kevin, who described the coin’s chart as one of the most promising among altcoins.
In his analysis, Kevin pointed to a double bottom pattern forming on Dogecoin’s weekly chart. This pattern appears right where several technical indicators align—the 200-week simple and exponential moving averages, the 0.382 Fibonacci retracement from the 2023–2025 move, and a long-term trendline that dates back to the 2022 bear market low. According to him, this confluence offers a strong setup with limited downside and significant upside potential.
Kevin also noted that several momentum indicators are turning positive. Market Cipher’s money flow is rising for the first time in over a year, the MACD is nearing a bullish crossover from a higher low, and the stochastic RSI is climbing out of the mid-range. On the monthly timeframe, the relative strength index continues to trend upward, while the stock RSI is holding firm and looks poised to rise again. All of this, he believes, points toward a sustained upward move—especially if Bitcoin can break past its resistance zone around $116,000.
Looking ahead, Kevin identified a key resistance zone for Dogecoin between $0.94 and $1.31, which includes the 2021 peak and the 1.618 Fibonacci extension from the 2022–2024 base. He expressed confidence that Dogecoin will at least reach 94 cents and suggested that breaking above the one-dollar mark could attract new retail interest and algorithm-driven momentum. While he didn’t predict an exact top, he maintained that hitting $1 is a realistic possibility—assuming Bitcoin continues climbing toward $150,000 and broader economic conditions, like a pause in the Federal Reserve’s tightening cycle, become more favorable.
Still, Kevin advised caution. He pointed out that Dogecoin’s recent intraday high lined up with Bitcoin reaching a major Fibonacci cluster and USDT dominance hitting a key support level—signals that could mean a short-term pullback is coming. He reminded viewers that meme coins are still volatile, even in strong markets, and stressed the importance of managing risk: locking in profits after major moves, adjusting stop losses, and sticking to a consistent trading strategy.
Beyond technicals, Kevin sees Dogecoin as deeply embedded in retail culture. “You can walk into any gas station and someone owns Doge,” he joked, calling it the favorite coin of everyday investors. That kind of broad recognition, he believes, will continue to benefit Dogecoin, especially when new capital starts entering the market. For now, as long as the double bottom holds and external factors align, he thinks the path forward remains bullish.
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