Dogecoin flashed a rare run of weekly buy signals, yet the memecoin stayed flat and remains locked in a months-long downtrend. Traders are now watching Bitcoin, which must clear key resistance before DOGE can mount a bounce.
Dogecoin's rare weekly buy signals have not translated into price strength, leaving the memecoin stuck within a long-term downtrend. Technical analyst Ali Martinez pointed to a buy signal on the weekly timeframe, where the TD Sequential indicator flashed consecutive signals, "a rare setup that could be warning a major bull rally is approaching". Elon Musk also drew attention by liking a Dogecoin-related memecoin post, his first such interaction since DOGE itself, according to Whale Insider.
Price action stays muted
Despite the signals, DOGE has barely moved. Its daily trading volume slid 20% over the past 24 hours, while the coin traded flat for the day and slipped 0.94% over the past week. Open interest also held steady, dropping only 1.1% in a day.
That quiet action means the short squeeze idea has not been invalidated. A week earlier, the liquidation map had made a case for a move toward $0.08, a scenario that has not yet played out.
A downtrend that keeps deepening
The weakness runs back months. After dropping to the $0.088 support zone in February, bulls fought to defend it, and a recovery appeared to take shape in May. But Bitcoin's rejection from its rally to $82.5k dragged the wider market lower.
Spot taker data tells a similar story. From December to late March, taker buy volumes dominated spot markets, and buying spiked for a few days in May as DOGE tried to push beyond the $0.12 resistance. Since then the optimism has drained, and DOGE now trades 17% below the $0.088 former support.
What could spark a bounce
The swing structure is firmly bearish, though a bounce toward the $0.083–$0.087 Fibonacci golden pocket remains possible. On lower timeframes, $0.075 stands as a key resistance zone.
Bitcoin holds the trigger. BTC needs to clear the $67.2k area to signal it can rally as high as $77k, and a market-wide shift could then lift DOGE. A drop below $62.5k would instead make the memecoin much more likely to fall to new swing lows.
A separate reading placed DOGE at $0.072, below its 20-, 50- and 100-day EMAs, with a recovery toward $0.09 conceivable only if it reclaims the nearer averages.
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