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Dogecoin (DOGE) is a cryptocurrency that started as a joke but became popular for its fast, low-fee transactions and strong online community. It has an unlimited supply, which makes it more suitable for small payments than long-term holding. Its price moves a lot based on overall market trends and social media hype, especially from meme culture.

On the weekly basis, we can see it trading in a big sideways range, which looks like a bullish (A)(B)(C)(D)(E) triangle pattern within a higher degree wave IV correction, so it can take some time before we see a bullish breakout into new all-time highs for wave V. After the recent spike lower ON oCTOBER 10 due to a market manipulation, we can see a completed completed complex WXY decline within wave (C).

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DOGEUSD Weekly Chart

On daily chart, it can be now looking a new three-wave ABC rally within wave (D) back to the upper triangle line, so after the recent sharp rebound into subwave A, followed by current subwave B corrective pullback, watch out for further recovery within subwave C of (D) towards 0.30 - 0.40 resistance zone, especially if it recovers back above the channel resistance line and 0.18 area.

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DOGEUSD Daily Chart

All that being said, seems like Crypto market could still see some recovery in the current cycle, especially ALTcoins, as we see ALTcoins currently dominating over Bitcoin in the Crypto market, so we may get a quick ALTseason if Bitcoin finds the support.

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