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Dogecoin Price Repeating 2024 Setup With Retest Of Fib Fan Before Possible Breakout Wave

Scott Matherson
Scott Matherson
Last Updated: May 24, 2026 5:00 pm
3 mins read
Dogecoin

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Dogecoin is at a technical area that will look very familiar to traders who followed its 2024 rally. The weekly chart shows Dogecoin is pressing into a long-term Fibonacci fan structure drawn from the 2021 peak, with the current retest coming near the 0.618 Fib fan after a similar 0.5 Fib fan retest preceded the large move in October 2024.

This technical setup does not confirm a breakout on its own, but it places Dogecoin at one of its most important weekly decision points in months.

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Dogecoin Returns To A Familiar Fib Fan Structure

The main idea of this technical analysis is that Dogecoin is still trading inside a long-term descending resistance structure that began from the 2021 all-time high price of $0.7316. However, the analysis also uses an interesting Fibonacci waves indicator in the form of expanding fan lines extending from the memecoin’s peak price.

These lines have acted as long-term resistance and breakout markers across DOGE’s post-2021 structure. Price spent much of 2022 and 2023 below these fan lines, only pushing into stronger recoveries when it reclaimed one of them.

DOGEUSD currently trading at $0.10. Chart: TradingView

The comparison is the October 2024 retest. At that time, DOGE fell below the 0.5 Fib fan area, held the structure below for a while, and then followed with a rally that sent its price to as high as $0.48 in December 2024. The chart now shows a similar retest developing around the 0.618 Fib fan, with the Dogecoin price currently trading around the $0.10 to $0.11 range.

Dogecoin Price Chart. Source: @_CryptoSurf On X

Is Dogecoin Preparing For Another Wave?

Dogecoin’s current interaction with the indicator shows it may be checking whether another Fib level can behave like support. If it holds, the setup will mean that Dogecoin is building another base at a Fib fan level similar to the Q4 2024 run. 

The ideal scenario for a bullish run is that DOGE holds above $0.095, pushes through $0.115, and begins climbing back above $0.14. That would make the 0.618 Fib fan retest look more like the October 2024 setup, where a technical hold came before a larger wave. 

On the other hand, if the setup fails, the repeat pattern loses credibility, and the Dogecoin price may return to lower support zones. A weekly breakdown below $0.095 would weaken the current pattern and lead to a consolidation between $0.095 and $0.08.

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Dogecoin’s current price structure is not yet bullish, but if history is any precedent, the bullish playout is the most possible scenario, as Dogecoin has never spent a notable amount of time below any Fibonacci fan level.

At the time of writing, Dogecoin is trading at $0.1028.

Featured image from Pixabay, chart from TradingView

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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