The weekly price performance of Dogecoin is exhibiting a classic pattern frequently spotted by technical analysts. Crypto expert badger (@badger0102) has identified a potential “cup and handle” formation on the long-term chart, spanning from 2021 to 2025, suggesting substantial gains well beyond previous highs. In a recent post, the analyst shared a chart of DOGE/USD (on Binance) via TradingView, noting the possible formation. At the time of analysis, Dogecoin’s price hovered around $0.2268, positioned between the 50% and 61.8% Fibonacci retracement levels of the projected upward move.
Dogecoin’s Chart Hints at Significant Upside Potential
The “cup” shape is formed by a multi-year price action, beginning with the surge in 2021, followed by a prolonged downturn throughout 2022 and 2023, and then a gradual recovery that gained momentum in 2024. The left side of the cup is marked by the period of selling in 2021 and a declining trendline that kept the price in check until it was decisively broken during the price increases in 2024.
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The lowest point of the cup aligns with the 0.00 Fibonacci level near $0.0491. The right side of the cup developed during the first and second quarters of 2025, with the price increase stalling just below the 78.6% retracement level around $0.4181 and before reaching the 88.6% level at roughly $0.5490. This area represents the “lip” of the cup formation.
After this upward move, Dogecoin formed a standard “handle” pullback, reaching a bottom around $0.14 in mid-2025. This low point closely aligns with the 38.2% retracement level at approximately $0.1391, before subsequently trending upward. The price has since moved back above the 50% level at around $0.1919 and is approaching the 61.8% level at approximately $0.2646. Bulls need to overcome this level to maintain the positive structure of the handle. The handle’s depth remains proportional (retracing about 38-50% of the right-side upward move), maintaining the pattern’s validity on the weekly chart.
The chart highlights a series of resistance levels and potential targets, assuming the upward momentum continues. If the price exceeds $0.2646 (the 61.8% level), the neckline or rim of the cup formation appears in the mid-$0.30 to low-$0.40 range, capped by the 78.6% level at about $0.4181.
A weekly close above that range would confirm the classic cup-and-handle breakout pattern, potentially leading to price targets based on measured moves and extensions. These targets include the 88.6% level at roughly $0.5490, the 1.000 extension near $0.7488, and the 1.128 extension at $1.0611. The key area of focus on the chart is marked with a highlighted circle at the **1.414 Fibonacci extension—approximately $2.3119—suggesting a long-term target** should the pattern fully develop and trends extend upward.
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On the downside, the handle’s formation provides a clear picture of where the pattern would be invalidated. Immediate support is found at the 50% level ($0.1919), followed by $0.1391 (38.2%) and $0.0934 (23.6%). A sustained drop below the handle low in the mid-$0.15 range would negate the pattern, potentially causing a return towards the base near $0.05, anchored at $0.0491.
Overall, the multi-year rounding base implies a significant shift from selling to buying activity, supported by the break of the long-term downward trendline drawn from the 2021 peak through 2022-2023. The upward movement on the right side and the measured handle pullback follow the momentum-pause-continuation pattern typically observed by technical analysts on longer-term charts.
However, confirmation depends on further gains: buyers need to absorb selling pressure around $0.26-$0.27, push through the $0.35-$0.42 rim area, and then achieve a weekly breakout with increased volume to unlock the higher Fibonacci targets.
As of the latest update, Dogecoin was trading at $0.225.
Featured image created with DALL.E, chart from TradingView.com