DOGE Faces Extended Correction Phase as Analysts Point to Multi-Year Consolidation Pattern

Dogecoin (DOGE), the popular meme coin that once soared to $0.73 during the 2021 crypto bull run, is now showing signs of a prolonged corrective phase. Technical analysts are highlighting a multi-year consolidation pattern, potentially tracing back to May 2021, which resembles an Elliott Wave 4 correction. This suggests that DOGE may remain in a stagnant price action phase for the foreseeable future, with uncertainty looming over its near-term trajectory. As of November 2025, the cryptocurrency continues to struggle with breaking out of this corrective pattern, leaving investors cautious about its next major move.

Analyst Warns of Prolonged Correction for Dogecoin Amid Stagnant Price Action

Dogecoin's price trajectory has entered a phase of uncertainty, with technical analysis pointing to a potentially extended corrective period. The meme coin, which peaked at $0.73 during the 2021 crypto frenzy, now appears trapped in a multi-year consolidation pattern resembling an Elliott Wave 4 correction.

A leading analyst suggests the current formation could trace back to May 2021, marked by overlapping A-B-C corrective sequences. The alternative scenario proposes a leading diagonal pattern emerging from late 2023, typically indicative of new impulsive cycles but often followed by sharp retracements.

The cryptocurrency has already retraced to the 0.5 Fibonacci level, with the 0.618 level looming as a critical threshold. This technical outlook presents what the analyst describes as Dogecoin's worst-case scenario for the current market cycle.

Dogecoin ETF Anticipation Fuels Market Rally as DOGE Tests Key Resistance

Dogecoin's price surged past $0.17 as traders position for Bitwise's landmark spot ETF launch in late November. The regulatory milestone signals growing institutional acceptance for meme coins, with technical indicators flashing bullish signals. The MACD shows a golden cross while RSI climbs to 64, reflecting accumulating buying pressure.

A formidable $0.20 resistance wall looms, where 11.12 billion Doge previously changed hands. This inflection point could determine whether the ETF-driven rally extends or falters. Meanwhile, investors increasingly contrast Dogecoin's speculative momentum with fundamentally-driven DeFi projects offering clearer utility.

Bitwise's amended S-1 filing triggered an automatic SEC approval countdown, with November 12 marking the decisive deadline absent regulatory objections. The potential ETF listing represents a paradigm shift, potentially bridging the gap between internet culture and traditional finance.

Dogecoin Price Poised for Potential 10x-33x Surge as Analyst Flags Bullish Pattern

Dogecoin, the meme-inspired cryptocurrency with enduring market presence, shows technical signals suggesting a major breakout. Analyst Crypto Patel identifies a parabolic structure mirroring its 2017 bull run, projecting ambitious targets of $2-$5 despite CoinCodex's conservative $1 estimate by 2050.

The token's historical resilience and Elon Musk affiliations continue fueling speculative interest. Current chart patterns echo previous explosive rallies, though conflicting analyst views highlight crypto's inherent volatility. Market watchers await confirmation of whether DOGE can convert technical Optimism into sustained price action.