Dogecoin Surges 17% After Analyst Praises Chart Structure

Dogecoin, the popular meme-coin, was trading near $0.20 on Friday, marking a weekly gain of approximately 17 percent. This surge followed a late-June livestream by technical analyst Kevin, who praised Dogecoin's chart structure as one of the best among altcoins. Kevin highlighted a double-bottom formation on Dogecoin’s weekly chart, which aligned with several key technical indicators, including the 200-week simple and exponential moving averages, the 0.382 Fibonacci retracement of the 2023–2025 advance, and a long-term up-trend line dating back to the 2022 bear-market trough. He emphasized that entering at this zone presented a favorable risk-reward ratio, with limited downside and significant upside potential.

Kevin further noted that the weekly momentum profile supports a larger breakout. Indicators such as money-flow on Market Cipher, the MACD, and the stochastic RSI all showed bullish signals. On the monthly chart, relative strength continued to print higher highs and higher lows, with the stock-RSI poised to push back up. Kevin's analysis suggested that the entire structure looked promising for a sustained move, contingent on Bitcoin clearing its own resistance band near $116,000.

Looking ahead, Kevin's price map for the coming months includes a purple resistance box between $0.94 and $1.31, which corresponds to the 2021 peak plus the 1.618 extension of the 2022–24 base. He expressed confidence that Dogecoin could at least reach 94 cents, with a decisive break of a dollar likely attracting new retail traders and algorithmic trend-followers. However, he cautioned against complacency, noting that meme-coins can experience significant volatility even in bull markets. Kevin advised strict risk management, including taking partial profits after big thrusts and moving stops to break-even.

Beyond technical analysis, Kevin framed Dogecoin as a perpetual beneficiary of retail psychology. He noted that Dogecoin's widespread popularity among retail investors makes it a darling of the market, especially when new money enters with deeper pockets. If the double-bottom holds and macro conditions align, Dogecoin could once again headline the next alt-season, potentially reaching a dollar tag that traders in the last cycle could only meme about. At the time of reporting, DOGE was trading at $0.1978.