A different take on Dogecoin’s price action suggests we’re not seeing a simple “cup and handle” pattern play out as many believe. Instead, this analysis proposes a much longer-term perspective.
A Cup Brewing Since 2021?
This alternative view argues that Dogecoin is still forming the “cup” part of a cup-and-handle pattern, a process that started way back near its 2021 peak. Most analysts think the cup is done and we’re in the “handle” phase, but this interpretation paints a different picture. They see the recent price movements not as a retest after a breakout, but as a prolonged period of consolidation and accumulation. The price staying above key moving averages supports this idea of gradual buying. Even the $0.48 resistance level is seen as just part of the cup’s formation, not a breakout point.
Accumulation and the Road to $0.4
Many analysts see Dogecoin’s recent dip as a simple handle retest. But this analysis suggests the price still needs to climb to a yet-to-be-reached breakout point. A move towards $0.4 could be the final push to complete the cup. After that, a handle might finally form.
If this theory holds true, we could see some short-term gains before a pause for consolidation between $0.4 and $0.5. The real breakout above the neckline resistance would happen after this consolidation, followed by the handle formation. The key level to watch for confirmation of this bullish scenario is $0.48.
Current Market Situation
Currently, Dogecoin is trading around $0.1967. A recent brief jump above $0.2 showed some short-term strength, but $0.2 remains a significant hurdle.
