Dogecoin News Today: Dogecoin Rallies 80% But Faces Resistance at $0.262

Dogecoin has entered a precarious position on its higher-time-frame chart, showing signs of technical triumph but also appearing visibly stretched. A cluster of weekly studies shared by pseudonymous market technician Cantonese Cat indicates that the meme-coin is pressing into resistance after an abrupt two-week rally that added roughly 80 percent from the June lows. The analyst cautions that while the move is structurally bullish, it may require a brief pullback to consolidate before further gains.

On the logarithmic Fibonacci retracement drawn across the 2024–25 range, last week’s candle managed to close marginally above the 0.618 level at $0.262 — a zone that has capped every breakout attempt since January. The close was technically significant: in classical market geometry, recapturing the 61.8 percent retrace often signals a transition from recovery to trend expansion. Cantonese Cat observed that it broke above the 0.618 log fib, which can use a bullish back-test. A return to that same area would flush back down to back-test the double-bottom that formed around $0.15 earlier in the quarter.

The Bollinger-Band panel underscores the risk of near-term mean-reversion. Dogecoin’s weekly close at $0.267 is the first in eleven months to settle outside the upper band, which currently sits near $0.262. Such closes are rare on a high-time-frame chart and are typically followed by at least one candle that re-enters the bands. Historically, Dogecoin has struggled to maintain altitude when that spread becomes extreme, often retreating to the middle band — now near $0.19 — or, in stronger cycles, to the upper band itself on the subsequent week.

The Ichimoku snapshot tells a similar story of progress meeting inertia. Price has vaulted both the conversion line (Tenkan-sen) and the baseline (Kijun-sen), confirming bullish momentum on those metrics, but remains pinned beneath the underside of the weekly cloud. The Senkō Span B that defines that lower cloud boundary sits around $0.28–$0.29, almost exactly where Dogecoin stalled on the final trading day of last week. Cantonese Cat labels that area “Ichimoku cloud resistance” and warns that until a decisive close pierces the cloud, the level should be treated as supply. A brief dip, therefore, would allow the Kijun-sen (roughly $0.23) and the 0.618 Fibonacci level to compress into a confluence that could provide the next higher low.

Supporting that idea is the supply-demand band highlighted in grey on the fourth chart. It spans approximately $0.24 to $0.25 and corresponds to the base of February’s breakdown range. In chart-pattern terms, the area acts as the neckline of the double-bottom Cantonese Cat references. A retracement into that former resistance-turned-support could satisfy both the Fibonacci back-test requirement and the Bollinger re-entry, while leaving the broader reversal structure intact. The analyst sketches exactly that path on the chart: a pullback into the grey zone, followed by a renewed advance toward the mid-$0.30s.

Importantly, none of these observations undermine the longer-term shift in market structure. The double-bottom around $0.15 resolved higher in July with a weekly candle that engulfed eleven weeks of prior supply, signalling a change of control from sellers to buyers. The most recent candles, though smaller, have held every gain from that breakout. As the analyst summarizes: “Overall, these are very bullish developments, even if it dips down early this week to reset some technicals.”