Dogecoin Approaches Rare Weekly Double Death Cross; Risk of Drop Toward $0.09–$0.11
Dogecoin (DOGE) trades near $0.105 and is approaching a rare weekly double death cross as the 23-week SMA (~$0.172) and 50-week SMA (~$0.185) converge toward the 200-week EMA (~$0.153). Technical models indicate the crossover could occur within weeks, increasing bearish pressure. Historical single death crosses in meme-coin cycles have often preceded 15–30% declines; a double configuration near multi-month lows raises the probability that DOGE will test the $0.09–$0.11 support band. To invalidate the bearish setup, bulls must push DOGE back above the 200-week EMA near $0.153, ideally on rising volume or significant whale accumulation. Current trading volume and large-holder inflows are lacking, lowering the chance of an immediate reversal. Traders should monitor weekly moving averages, EMA200, volume spikes, and whale activity for signs of trend reversal or accelerating downside volatility.
Bearish
The converging weekly 23- and 50-week SMAs toward the 200-week EMA indicates an impending double death cross — a bearish technical signal, especially when occurring near multi-month lows. Historical analogues for meme coins show that death crosses often precede 15–30% drawdowns; a double cross increases downside risk. Current lack of rising trading volume and limited whale accumulation reduces the odds of an immediate bullish reversal. Short-term: higher probability of a test of the $0.09–$0.11 support band and elevated volatility if support fails. Medium-to-long term: if price reclaims and holds above the 200-week EMA (~$0.153) on sustained volume, the bearish pattern can be invalidated; absence of that could prolong downward pressure. Key indicators traders should watch: weekly SMA/EMA cross timing, weekly close behavior around EMA200, volume spikes, on-chain whale transfers, and open interest in derivatives to assess forced liquidations.