Will Dogecoin Dance with Bears or Just Trip Over Its Own Paws?

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In the dusty corners of the crypto market, where dreams and dollar signs collide, a curious thing is happening with Dogecoin. Like a stubborn mule, it stumbles upon a rare sight-a “bearish cross” that sends traders into a tizzy, debating whether last week’s plunge to $0.08 was a mighty reset or just the first wobbly step down the rabbit hole. This isn’t just about DOGE, folks; it’s like watching the weather change in a small town-every memecoin whisper is treated as a harbinger of risk appetite across the chaotic landscape of crypto.

Is This the Bottom for Our Four-Legged Friend?

Now, Charting Guy, a seer of sorts, declares that the 20-week EMA has crossed below the 200-week EMA, a sign that, historically, has heralded DOGE’s capitulation, much like a farmer predicting rain by the way the cows are lying down. “DOGE typically finds its bottom around this juncture,” he scribbles, adding that he took the plunge and upped his stake by 50% when things looked bleak. His followers received the call to buy, perhaps believing they were buying the next great American pie.

But lo and behold, not everyone shares this sunny outlook. Daan Crypto Trades comes along, cautioning folks to keep their horses in the stable, framing the post-dip bounce as merely a range trade instead of a triumphant return to glory. “DOGE is showing decent price action after the big $0.08 test,” he notes, sizing up the range like a cautious gambler at a poker table, saying, “Anything above that point would make me confident in further movement toward the Daily 200 MA/EMA.” But right now? It’s like trying to guess which way the wind will blow while perched on a fence.

On his chart, Dogecoin rests between $0.10 and $0.11, caught in the limbo of a market that can’t decide whether to leap forward or backpedal into the shadows. Not exactly a clean sweep, more like a dance-off where nobody knows the steps. And if waiting were an Olympic sport, those long on DOGE might just end up broke; João Wedson, the CEO of Aphractal, warns, “If you are long on Doge, you will likely be liquidated soon!” Talk about a party pooper.

An aggregated liquidation heatmap from Alphractal underscores why this warning has traders sweating bullets-the potential for a cascade of stop-loss orders looms beneath, like a great wave ready to crash down should DOGE decide to move instead of meandering.

Wedson also posits that DOGE’s rambunctious rallies serve as a sort of crystal ball for Bitcoin, warning that chaos in the land of Dogecoin often signals trouble ahead for Bitcoin. It’s the canary in the crypto coal mine, so to speak.

Meanwhile, Alphractal spins a longer yarn about memecoins outperforming BTC and other altcoins, with Dogecoin leading the charge, like a dog chasing its tail. But just as quickly, the winds shift, with memecoins starting to correct while Bitcoin sits tight, like a cat watching the world go by.

The near-term map may look as clear as a mountain stream, but confidence? Well, that’s another story. Bulls need to reclaim the top of the $0.08-$0.13 range to reopen pathways to glory, while bears sharpen their claws, eyeing the $0.08 area for a second test like a hawk waiting for a mouse to scamper by.

And as the clock ticks on, Dogecoin finds itself trading at $0.10, caught in this tangled web of hope and despair.

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2026-02-17 08:56