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The information that Iran and Israel have agreed to a ceasefire brokered by US President Donald Trump might have marked the underside for the Dogecoin worth. Through X, unbiased chartist Maelius (@MaeliusCrypto) uploaded a weekly DOGE/USDT research that he believes is tracing an unusually clear, nested 1-2, 1-2 “spring-loaded” Elliott set-up – the type of formation that usually precedes an outsized third-wave rally. “DOGE … Market makers, please, don’t ship it too onerous,” the analyst joked on 23 June, imploring liquidity desks to let the construction mature earlier than unleashing volatility.
Dogecoin Prepared To Explode?
In Maelius’ depend, the second of the 2 minor wave-twos ended final week when worth tagged $0.142 and instantly snapped larger. That inflection, seen on his chart because the tip of an extended decrease wick, occurred precisely the place the 200-week exponential shifting common ($0.142) intersects a rising help trend-line that has tracked Dogecoin since late-2023 – a textbook space for long-term cash to defend. The bounce printed on Sunday’s weekly shut, giving technicians a tough reference level for danger.
If the wave map is appropriate, the composite third wave that now follows might push into the $1.10–$1.30 hall, Maelius annotates. A fourth-wave pause someplace close to $0.60 would then reset oscillators earlier than a terminal fifth wave above $1.60 completes the cycle. Whereas the analyst stops in need of publishing time targets, the worth ranges are etched in full on the chart, making the roadmap unambiguous.
Associated Studying
Underlying demand can be drawn into the image. A broad inexperienced rectangle labelled “DEMAND” spans roughly $0.12–$0.17. Final week’s wick as soon as once more penetrated that zone earlier than reversing, including statistical weight to its significance.
On the backside of Maelius’ chart lies the WaveTrend Oscillator (WTO), comprising a quick line (WT1), a gradual line (WT2) and a histogram that plots their unfold. The analyst shades the band between about –60 and –30 in inexperienced to indicate the oversold flooring. Each momentum strains double-bottomed in that zone in autumn 2024 and April this yr, instantly earlier than worth rocketed larger.
Associated Studying
As of Sunday’s shut WT1 prints –18.49 and WT2 –33.21, with the histogram at –22.80. In different phrases, momentum is cooling however may very well be reversing as it’s touching Maelius’ backside zone as in earlier cases.
Sceptics be aware {that a} nested 1-2 depend can fail if worth undercuts the second wave-two, and that liquidity-driven memecoins are intrinsically susceptible to whipsaw. Even Maelius tempered his enthusiasm in a follow-up trade when a follower warned of a “choppy summer,” replying: “We’re virtually in July bro, one or two months of chop not altering something if [it] occurs.”
For now the battleground is obvious: so long as Dogecoin holds above the converging 200-week EMA–trend-line nexus and the higher rim of the demand zone, the wave thesis stays intact and the following directional verdict will belong to the market quite than the meme.
At press time, DOGE traded at $0.1634, up 17% because the backside on Sunday.
Featured picture created with DALL.E, chart from TradingView.com