Dogecoin’s Wyckoff Waltz: Will It Moon or Mope? 🌕🐶

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Well, I say, old bean, it appears that Dogecoin is up to its old tricks again, what? According to the chap Osemka (@Osemka8), a fellow who seems to know his onions when it comes to the crypto game, our canine-themed currency is sitting pretty in a Wyckoff accumulation phase, as cozy as a spaniel by the fireside. 🦴 The blighter’s price action, he claims, is mirroring the “OTHERS” index like a faithful hound, and we’re all just waiting for the risk-on ignition to set it off like a rocket. 🚀

Dogecoin’s Jolly Wyckoff Shenanigans

On the long-term chart, old Doge’s history is as predictable as Jeeves bringing my morning tea. A series of rounded basing formations, you see, each one a prelude to a vertical jolly-up. The first, from 2014 to 2017, ended with a bit of a to-do; the second, spanning 2018 to 2020, culminated in the 2021 blow-off-rather like Bertie Wooster after too much champagne. 🥂 And now, a third arc has been curving since 2022, as steady as a butler’s hand.

At present, DOGE is trading below $0.20, but the rounding contour remains as intact as Aunt Agatha’s disapproval. It’s all rather reminiscent of the two prior launch setups, where supply thinned out and prices shot up like a startled pheasant. 🦃

The daily chart, meanwhile, is a veritable treasure map of Wyckoff schematics. Osemka’s annotated it with the precision of a fellow measuring his cocktail ingredients. Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR)-it’s all there, as clear as a bell. 🔔 A sharp downdraft into a “Spring,” accompanied by capitulation volume as dramatic as a Wooster family row, has punctured the channel before snapping back. Classic Phase C shakeout, what?

Wyckoff Chart Analysis

Since then, the price has coiled between $0.18 and $0.22, like a spring waiting to-well, spring. 🪻 Overhead, a local supply zone lurks between $0.26 and $0.28, and the channel’s ceiling caps at around $0.32. Osemka quips, “DOGE coin follows OTHERS index almost 1:1. A perfect Wyckoff accumulation range. Test phase driving everyone nuts.” Quite the understatement, that. 🥜

Macro Environment: Still as Picky as Aunt Agatha

Our analyst chum ties this micro to the macro playbook with the finesse of a top-notch valet. In an October 7 note, he pointed out that DOGE is typically the last to join the risk rotation party-rather like Bertie Wooster showing up after the champagne’s run out. 🍾 Breadth improves, IWM breaks out, alts rise, and only when the OTHERS index clears its ATH does DOGE finally get its act together.

“Rounded bottom on DOGE each time,” Osemka explains. “Since DOGE is that coin that does nothing the entire cycle then rips faces off, it’s interesting to compare what happens after macro environment switches to Risk-on mode. What I can get from this is nothing special.” Well, I’m glad he finds it unspecial; the rest of us are biting our nails. 🤏

Macro Environment Analysis

In his latest exchange, Osemka admits that “one stab lower” is possible before the markup, especially with Bitcoin liquidity a tad lower. In Wyckoff terms, that’s a final test or spring-within-the-spring, designed to validate demand at $0.18-$0.22 before a Sign of Strength (SOS) above $0.32. Rather like testing the water before diving in, what? 🏊

Context across the memecoin complex is as mixed as a Wooster family gathering. PENGU’s outperforming DOGE, while TAO, DOGE, and ONDO are the “best-looking setups”-TAO being the strongest, of course. It’s all rotation, no dispersion, like a game of musical chairs. 🎶 DOGE’s structure is constructive, but confirmation hinges on a clean exit from the accumulation range and the broader risk-on ignition.

For traders mapping levels, the near-term battlegrounds are as clear as a bell. The test box at $0.18-$0.22 must hold its higher lows, the local supply at $0.26-$0.28 is the first hurdle, and the rising channel top near $0.32 is where the bulls take charge. Only sustained acceptance above those bands will upgrade the structure from accumulation to markup, aligning DOGE with its 2017 and 2021 glory days. 🏆

Until then, the “perfect Wyckoff trap” remains as apt as a Wooster quip: the range tests patience and conviction, while the intermarket checklist waits for its final tick. At press time, DOGE traded at $0.194-steady as she goes, what? 🐕

DOGE Price Chart

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2025-10-23 18:12