Dogecoin reclaimed the $0.10 price level after short-term drops below that threshold on May 23 and May 29, according to charts shared by analyst KrissPax on X. The analyst identified an accumulation pattern where price suppression forces out leveraged long traders before buyers return at lower levels. Meanwhile, analyst Alex presented an Elliott Wave chart suggesting Dogecoin remains inside a larger corrective structure following its 2020 to 2021 rally, with potential downside risk toward the $0.02 to $0.03 zone if DOGE breaks below its prior Wave A low. The contrasting timeframes reflect different technical analysis approaches—short-term accumulation dynamics versus long-term wave cycle projections.
Dogecoin Reclaims $0.10 as KrissPax Identifies Accumulation Pattern
Dogecoin moved back above the $0.10 level after dropping below it, according to a 30-minute chart shared by KrissPax on X. The analyst stated DOGE is moving through an accumulation period, with price getting pushed below key levels before buyers step in near lower prices.
The chart shows DOGE trading around the $0.10 level after several moves above and below that price area. A yellow dotted line marks $0.1000 as the main reference level on the chart.
DOGE first dropped below 10 cents on May 23 before bouncing sharply back above the level. The chart marks that earlier rebound with a white arrow, showing how buyers reacted after the selloff. A similar move appears again on May 29—DOGE fell below the 10 cent area, formed a short-term low near the lower range, and then moved back above the yellow line.
KrissPax said this is how Dogecoin accumulation works. According to the analyst, price gets suppressed, leveraged long traders are forced out, and buyers return at lower levels. The latest rebound pushed DOGE back toward the $0.1006 area on the chart, putting the 10 cent level back in focus as a short-term support and resistance zone.
The chart indicates that if DOGE holds above $0.10, it could support another recovery attempt toward the recent range highs near $0.1015 and $0.1020. However, a move back below 10 cents would weaken the short-term bounce, and DOGE could retest the lower area near $0.0980, where buyers appeared earlier.
Alex Charts Elliott Wave Structure with $0.02 to $0.03 Downside Target
Dogecoin may still be inside a long corrective structure after its 2020 to 2021 impulse rally, according to a chart shared by Alex on X. The analyst said DOGE appears to have completed a five-wave Elliott impulse during the 2020 to 2021 cycle, and the current structure may now be forming the final Wave C of a larger A-B-C correction.
The chart shows DOGE's sharp 2021 rally marked as a completed five-wave move. After that peak, the price entered a long corrective phase, with the first major decline marked as Wave A. DOGE later formed a large rebound, which the analyst marked as Wave B. The latest price action is shown as a possible Wave C, which the analyst said could extend lower before a long-term bottom forms.
Alex stated the key point is that DOGE has not yet broken the Wave A low. In his view, a final Wave C often takes out the previous low, especially in volatile assets such as Dogecoin. The chart also highlights the 0.618 Fibonacci retracement of the full 2020 to 2021 bull market. That zone sits around $0.02 to $0.03 and is marked as the analyst's main downside target.
According to the chart, if DOGE continues lower and reaches that area, it could become a final capitulation zone before a longer base forms for the next market cycle. However, the setup still depends on confirmation—DOGE would need to break below the Wave A low and continue toward the Fibonacci zone before the full bearish scenario plays out.
For now, the chart shows Dogecoin still inside a larger corrective structure. The main risk the analyst identified is whether the current Wave C continues lower or DOGE invalidates the downside setup by holding above its prior low.
FAQ
What price level is Dogecoin currently holding?
Dogecoin reclaimed the $0.10 level after dropping below it on May 23 and May 29, according to charts shared by analyst KrissPax on X. The analyst's 30-minute chart shows DOGE trading around $0.10 after several moves above and below that price area, with the latest rebound pushing DOGE back toward the $0.1006 area.
What is the accumulation pattern KrissPax identified?
KrissPax stated that DOGE is moving through an accumulation period where price gets suppressed below key levels, leveraged long traders are forced out, and buyers return at lower prices. The chart shows this pattern occurring on May 23 and May 29, when DOGE dropped below $0.10, formed short-term lows, and then moved back above the level as buyers stepped in.
What downside target does Alex's Elliott Wave analysis suggest?
Analyst Alex's Elliott Wave chart identifies the $0.02 to $0.03 zone as the main downside target, corresponding to the 0.618 Fibonacci retracement of Dogecoin's full 2020 to 2021 bull market. Alex stated this scenario depends on DOGE breaking below its prior Wave A low and continuing toward that Fibonacci zone, which he described as a potential final capitulation area before a longer base forms for the next market cycle.
