Chart analyst Crypto Patel (@CryptoPatel) argues that Dogecoin has returned to the same macro support band that preceded its last major cycle runs, describing the current $0.10-$0.06 area as a “reaccumulation” zone with upside targets rising to $4 if history repeats itself.
Dogecoin reaches the main demand zone again
In a February 3 after on The post leans heavily on the idea that DOGE’s larger moves are coming from the same structural region, presenting the current pullback as a typical cycle reset rather than a disruption.
“This weekly/2W chart screams accumulation,” Patel wrote. “Macro Demand Zone Holding at $0.10-$0.06. Price respects multi-year strong support (since 2021).”
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The argument is simple: DOGE has returned sharply from its peak and is now back in a band where previous expansions began. Patel characterized the setup as “-87% less than ATH – Classic Cycle Reset,” adding that “Every previous touch of this zone led to a parabolic expansion,” citing two historical breakouts: the 2021 move described as a “+17,000%” rally and a 2024 advance labeled “+600%.”
Patel’s roadmap defines three upside targets – $0.50, $1.50 and $4.00 – described as a “full cycle extension of ~5,500%,” implying a multi-stage move rather than a single linear rally. The analysis also provides a clear line in the sand: “Invalidation: Weekly close below $0.06,” which would debunk the claim that the region is using a higher timeframe demand.
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In addition to the technical framework, Patel attempted to reinforce the long-term story with a catalyst claim tied to Elon Musk and SpaceX, writing: “LONG TERM FUNDAMENTAL CATALYST (NO NOT THIS) 🚀 Elon Musk has confirmed that SpaceX (@SpaceX) has plans to send a literal #Dogecoin to the moon.”
As a Bitcoinist reported On Wednesday, Elon Musk revived the old “Dogecoin to the moon” story after replying to a fan on
The broader message is a familiar positioning contrast: “Smart money piles when sentiment is dead. Retail buys when price is vertical.” Whether DOGE’s current base will behave like previous cycles will depend on the same variable flagged in the post: holding the $0.10-$0.06 range on a weekly close basis as traders weigh how much of the “cycle extension” playbook still applies in a market that has already seen a significant rebound beyond 2021.
At the time of writing, DOGE was trading at $0.09857.
Featured image created with DALL.E, chart from TradingView.com