Dogecoin (DOGE) has reclaimed a critical monthly support level after a brief drop beneath it, reviving talk of a setup that twice preceded historic rallies.
Dogecoin Reclaims Monthly Support After Fake Breakdown
Crypto analyst Trader Tardigrade pointed to the move in a May 22 post, describing it as a fake breakdown that traders have long watched.
The pattern works in a simple way.
Price slips below a vital floor, traps sellers who bet on further losses, then climbs back above the level and leaves those positions stranded.
Tardigrade noted that DOGE has now done this for the third time in its history. He linked the 2017 version to a 29,000% rally and the 2020 version to a roughly 16,000% surge.
A second analyst, Nehal, compared the current chart to the structure that followed Dogecoin's Aug. 2024 bottom, when four green weekly candles gave way to two red weeks before a breakout.
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Analysts Weigh DOGE Rally Odds
Nehal said the token has again printed four bullish weekly closes since its Feb. 2026 low and now sits in a second week of red consolidation, a near match for the earlier rhythm.
Two outcomes favor the bulls, by his read.
DOGE could close the week red near its open and then push higher, or it could flip green at once and accelerate.
Other voices stay cautious. Past patterns do not guarantee a repeat, and meme coins rarely move without a fresh narrative pulling retail buyers back in.
That hesitation matters because Dogecoin's protocol keeps issuing new coins, so demand must outpace a steadily growing supply for any sustained climb to hold.
DOGE Price Slide Defines Recent Weeks
The renewed optimism arrives after a bruising stretch for the token. DOGE traded near $0.099 on May 23, down close to 7% over 24 hours and lower across the past week.
The coin has spent much of the past year boxed inside a narrow band, and it still sits about 86% below the $0.7376 record it set in May 2021.
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