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The Dogecoin triple zigzag Elliott Wave pattern suggests where the meme coin could find a possible final low before a rebound toward $0.20.
Dogecoin ($DOGE) currently changes hands at $0.0733, down 2.95% over the past 24 hours. While the recent price movement already shows weakness, the larger chart pattern indicates $DOGE could drop further below $0.04 before ending the ongoing correction.
Dogecoin Triple ZigZag Pattern Shows Ongoing Correction
Based on the Elliott Wave count, the entire structure on the daily chart suggests an ongoing corrective move, not the start of a new uptrend.
The correction has played out in three separate phases: W, Y, and Z. Each phase contains its own three-part structure, beginning with an “a” wave decline, followed by a “b” wave rebound that often makes buyers believe the correction has ended, before a final “c” wave decline brings the strongest selling pressure.
Between these corrective phases, Dogecoin formed X waves, which acted as short-lived rallies before the broader downtrend resumed. These movements make up what Elliott Wave theory calls a triple zigzag, one of the most bearish corrective formations.
Earlier Dogecoin Declines
The first corrective phase, Wave W, pushed Dogecoin down from its December 2024 high of $0.48 to around $0.13 by April 2025. After reaching that level, the market entered its first X wave, lifting the price back to about $0.26 by May 2025 before sellers took control again.
The market then entered Wave Y, which followed another three-wave decline and eventually dropped to $0.10 by October 2025.
After the drop, Dogecoin attempted another recovery through a second X wave, but this rally was much weaker than the previous one. Notably, the price climbed only to around $0.20 during October 2025, suggesting that buyers were no longer able to produce a stronger recovery.
Final Wave Could Push Dogecoin to $0.039
Chart data shows that Dogecoin is now trading inside Wave Z, the third and final stage of the larger corrective pattern. Within this phase, the “a” wave pushed prices lower from late 2025 into early 2026, ending at $0.10 in February 2026.
After reaching this low, Dogecoin moved into a “b” wave recovery that carried the price to around $0.1184 by May 2026. However, that rebound has now failed. At roughly $0.0733, Dogecoin has already fallen nearly 40% from the $0.1184 peak.
Meanwhile, the market has repeatedly failed to stay above $0.08, as sellers continue to step in whenever prices rise during the day. These signs confirm that the “c” wave of Wave Z is now in progress.
The earlier corrective phases also guide what could happen next. Specifically, during Wave W, the c wave dropped about 69% from the b wave high. In Wave Y, the same move measured roughly 66%, giving an average decline of 67%.
If the current c wave follows a similar pattern from the $0.1184 b wave high, the final Dogecoin low could come in near $0.039 to $0.040.
Potential Dogecoin Recovery After Correction Ends
Although the current outlook remains bearish, the Elliott Wave theory also suggests a possible recovery once the correction finishes. A completed triple zigzag would mark the end of the corrective cycle that started after Dogecoin reached its peak in December 2024.
The chart projects a move higher after Wave Z reaches its final low. If this plays out, Dogecoin could recover toward the $0.18 to $0.20 range as a new bullish trend begins.
However, this depends on the market first forming and confirming the Wave Z bottom through a clear structural reversal. So far, neither the expected bottom nor that confirmation has appeared, meaning the current downtrend remains in place.