This descending channel is important to this technical analysis. Similar corrective behavior appeared just before Dogecoin’s last major expansion in 2021, where the price consolidated for an extended period before breaking upward decisively.
According to the analyst, this region between $0.115 and $0.09 is a clear zone of sustained accumulation, where buying pressure has consistently prevented deeper breakdowns.
Wave 5 Targets Multi-Year Expansion PathIf the accumulation zone continues to hold and the price breaks out of the descending channel, then the next projection is the playout of a Wave 5 impulse move. Crypto Patel’s mapped targets for this phase start around $0.28, followed by higher extensions at $1, $2, and ultimately $4.
On the other hand, the analysis noted that invalidation is also well defined. A weekly close below $0.06 would break the higher-timeframe structure and invalidate the Wave 5 thesis. Until then, the technical analysis suggests Dogecoin is in a compression phase where downside risk is increasingly defined, but upside expansion into new price highs is possible if Dogecoin embarks on the final impulse of the cycle.
