Dogecoin Hits Bottom? Analyst Calls "Don’t Push Too Hard!"

The news that Iran and Israel have agreed to a ceasefire brokered by U.S. President Donald Trump may have marked a bottom for the Dogecoin price. Via X, independent charter Maelius (@MaeliusCrypto) uploaded a weekly DOGE/USDT study that he believes is tracking an unusually clean nested 1-2, 1-2 nested Elliott pattern – the type of formation that usually precedes an excessive third wave bullish. "DOGE... Market makers, please, don't push it too hard," the analyst joked on June 23, begging liquidity tables for the structure to mature before releasing volatility. Is Dogecoin Ready to Explode? According to Maelius's calculations, the second wave in the two small waves ended last week when the price reached $0.142 and immediately surged higher. This bend, which can be seen on his chart as a peak of a long wick below, occurred precisely at the point where the 200-week exponential moving average (,142 USD) intersects with the upward support trendline that has been following Dogecoin since the end of 2023 – a textbook region for long-term capital protection. The recovery was printed at Sunday’s weekly close, providing technicians with a hard reference point on risk.

If the wave map is accurate, the third synthetic wave currently following could push into the $1.10–$1.30 corridor, Maelius noted. A fourth wave pause somewhere near $0.60 will then reset the oscillators before the final fifth wave above $1.60 completes the cycle. While the analyst stops short of announcing a timeline target, the price levels are fully etched on the chart, making the roadmap clear. The basic demand is also reflected in the picture. A wide green rectangle labeled "DEMAND" stretches from about $0.12 to $0.17. Last week's wick once again pierced that area before reversing, adding statistical weight to its significance. At the bottom of the Maelius chart is the WaveTrend Oscillator (WTO), which includes a fast line (WT1), a slow line (WT2), and a histogram chart showing their divergence. The analyst shades the band between -60 and -30 in green to indicate the oversold floor level. Both momentum lines hit a double bottom in that zone in the fall of 2024 and in April this year, just before the price surged. As of the closing time on Sunday, WT1 reached -18.49 and WT2 reached -33.21, with the chart at -22.80. In other words, the momentum is cooling down but could reverse when it touches the bottom area of Maelius as in previous cases. Skeptics note that some intertwined count 1-2 may fail if the price drops below the second wave-two level and memecoins driven by liquidity are inherently prone to high volatility. Even Maelius has tempered his enthusiasm in a subsequent exchange when a follower warned about a "volatile summer", replying: "We're about to enter July, buddy, a month or two of volatility doesn't change anything if [it] happens." Currently, the battlefield is clear: as long as Dogecoin stays above the converging 200-week EMA trend line and the upper boundary of the bridge area, the wave thesis remains intact and the decision on the next direction will belong to the market, not the meme.