Dogecoin Plunges Below $0.15 – Is This the Start of a Major Distribution Phase?
Dogecoin's latest crash sends shockwaves through the meme coin market as it breaches the $0.15 support level. Traders are scrambling to decode the next move.
Brace for impact—or opportunity?
When the 'people's crypto' stumbles, the whole circus watches. Analysts now debate whether this is a healthy correction or the beginning of a prolonged distribution phase. Either way, the charts don't lie—unlike some crypto influencers.
Key levels to watch: If DOGE can't reclaim $0.15 soon, we might see a retest of yearly lows. But if you believe in miracles (or Elon Musk tweets), this could be your discount entry.
Remember: In crypto, 'fundamentals' is just Latin for 'hopium.' Trade accordingly.
PO3 Pattern Confirms Dogecoin’s Next Moves
Dogecoin’s chances of resuming its previous bullish run are rising fast, as a new chart analysis by Trader Tardigrade reveals that the top meme coin has just moved into the distribution phase of a key PO3 market structure. This development comes just after DOGE’s price broke down below the $0.15 mark earlier last month. However, the meme coin has since rebounded and is now hovering just slightly above that level at around $0.16.
Trader Tardigrade’s chart analysis confirms that Dogecoin is about to complete all three critical PO3 stages—Accumulation, Manipulation, and Distribution—on the 1-hour timeframe. This progression now sets the stage for its next move, signaling the potential beginning of a fresh upward breakout.
The PO3 sequence began with a tight consolidation zone marked by accumulation around June 25-26. This was followed by a sharp drop below the support level, marking the manipulation phase between June 27 and 28. This strategic shakeout, typically designed to trap late sellers and liquidate weak hands, pushed Doge below the $0.15 threshold. However, instead of undergoing a continued downtrend, the meme coin’s price recovered slightly, reclaiming the lost range before initiating a strong rally on June 30.
The green-shaded area on the chart highlights the distribution phase, where Dogecoin’s bullish momentum has returned aggressively. Notably, price broke above short-term resistance levels and climbed toward $0.175, confirming the final stage of the PO3 structure and also reflecting growing buying pressure. This development implies that the recent crash was likely not indicative of market failure, but a possible setup for Dogecoin’s next bullish phase.
Dogecoin MACD Bullish Cross Established
In other news, Trader Tardigrade announced on X that dogecoin has finally established a bullish Moving Average Convergence Divergence (MACD) crossover on the daily chart, signaling the first technical reversal in weeks after a prolonged downtrend. The analysis indicates that the crossover is now active, marking a potential shift in momentum from bearish to bullish.
This development follows weeks of sustained losses that began in early June, when a bearish MACD cross triggered a sharp breakdown from the $0.21 level. With the bearish cross potentially overturned, Dogecoin may be entering a renewed upward trend.
As a result, Trader Tardigrade’s chart shows that the next upside target may extend above $0.28 in the coming weeks if DOGE continues to hold above key support while maintaining strong momentum.
