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Chart analyst Crypto Patel (@CryptoPatel) is arguing Dogecoin has returned to the same macro support band that preceded its last major cycle runs, framing the current $0.10–$0.06 area as a “re-accumulation” zone with upside targets extending as high as $4 if history repeats.
Dogecoin Hits Key Demand Zone Again
In a Feb. 3 post on X, Crypto Patel shared a 2-week $DOGE/USDT chart and wrote that $DOGE is “at the EXACT level that triggered 17,000% pump,” pointing to a multi-year base that has repeatedly acted as demand since 2021. The post leans heavily on the idea that $DOGE’s larger moves have originated from the same structural region, with the current drawdown presented as a typical cycle reset rather than a breakdown.
“This Weekly / 2W Chart is Screaming Accumulation,” Patel wrote. “Macro Demand Zone Holding at $0.10–$0.06. Price Respects a Multi-Year Strong Support (Since 2021).”
The argument is straightforward: $DOGE has retraced sharply from its peak and is now back in a band where prior expansions began. Patel characterized the setup as “-87% Down From ATH – Classic Cycle Reset,” and added that “Every Previous Touch of This Zone Led to a Parabolic Expansion,” citing two historical bursts: the 2021 move described as a “+17,000%” rally and a 2024 advance labeled “+600%.”
Patel’s roadmap defines three upside targets—$0.50, $1.50, and $4.00—described as a “Full Cycle Extension ~5,500%,” implying a multi-stage move rather than a single straight-line rally. The analysis also provides a clear line in the sand: “Invalidation: Weekly Close Below $0.06,” which would negate the thesis that the region is holding as higher-timeframe demand.
Beyond the technical framing, Patel attempted to bolster the long-term narrative with a catalyst claim tied to Elon Musk and SpaceX, writing: “LONG-TERM FUNDAMENTAL CATALYST (DON’T IGNORE THIS) 🚀 Elon Musk has Confirmed that SpaceX (@SpaceX) Plans to Send a Literal #Dogecoin to the Moon.”
As Bitcoinist reported on Wednesday, Elon Musk revived the old “Dogecoin to the moon” narrative after replying on X to a fan and saying SpaceX could send a literal Dogecoin to the Moon “maybe next year”, which people interpret as around 2027.
The broader message is a familiar positioning contrast: “Smart Money Accumulates When Sentiment Is Dead. Retail Buys When Price Is Vertical.” Whether $DOGE’s current base behaves like prior cycles will hinge on the same variable the post flags: holding the $0.10–$0.06 band on a weekly closing basis while traders weigh how much of the “cycle extension” playbook still applies in a market that has already seen one sizable post-2021 rebound.
At press time, $DOGE traded at $0.09857.
