Crypto Analyst Says Dogecoin Price Breakout Is Programmed, Here's Why
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Dogecoin has spent the past few weeks oscillating in a tight range, with prices hesitating around the $0.17 level and facing consistent pressure near the $0.185 resistance zone. Despite several attempts to push higher, the meme coin has lacked sustained momentum until the past 24 hours after Bitcoin's break above $100,000 again. A recent post by crypto analyst Trader Tardigrade points to the bullish sentiment, suggesting that Dogecoin's next leg up is programmed and perfectly on schedule.
Dogecoin's Rally Is Programmed Due To Repeating 29-Day Cycle
According to Trader Tardigrade, Dogecoin's price action is showing an interesting regular rhythm. Noting a chart that tracks the Relative Strength Index (RSI) against Dogecoin's daily candlestick price chart, the analyst pointed out that every 29 days, Dogecoin completes a cycle that ends with a breakout.
The exact sequence has now occurred three times: each time followed by a sharp rally. The image accompanying his post illustrates three distinct RSI breakout points spaced exactly 29 days apart, with each initiating a powerful upward move in Dogecoin's price.
Source: Trader Tardigrade on X
This repeating cycle appears to be driven by RSI downtrend breakouts. The first breakout occurred in early March, while the second breakout occurred in early April. In each of the two previous occurrences, Dogecoin's RSI formed a descending trendline that was broken just as the cycle reset, which sent price action upward. Now, with the most recent RSI downtrend line also broken and the 29-day interval completed once again, the conditions for another programmed move are, in Tardigrade's words, 'on time.'
Read More NEAR: Why you should keep an eye on this AI token
Programmed Uptrend To Send DOGE Above $0.23 Again
The technical basis behind Trader Tardigrade's prediction is in the RSI behavior. The RSI is a momentum indicator often used to detect potential reversals or continuations in price action. In Dogecoin's case, the RSI has consistently reset downwards since it broke below oversold levels on March 9. However, the past two cases have led to a slow build-up, eventually breaking above a local resistance line. Notably, the RSI breakout is occurring at the exact same interval as the one seen in the previous two rallies.
The green arrows on the chart, placed directly after each RSI breakout, show clear and steep price increases, showing these moments mark the beginning of bullish phases. If the pattern holds, Dogecoin may enter another strong upward phase that could take it beyond the $0.20 level. Particularly, a measured move based on the two previous playouts put the price target toward the next psychological resistance zone around $0.24. This price target resonates with a different technical outlook, which is based on a head and shoulder formation showing up on the daily timeframe.
At the time of writing, Dogecoin is trading at $0.1971, up 9% and 8.9% in the past 24 hours and seven days, respectively. This latest uptrend is caused by Bitcoin's recent break above the psychological $100,000 price level.
DOGE trading at $0.20 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
41 minutes ago
- Forbes
Trump Confirms Imminent Fed Decision—Bitcoin And Crypto Brace For Huge Price Earthquake
Bitcoin has struggled to break out in recent months despite hitting a fresh all-time high in May and fears building over a $37 trillion 'ticking time bomb.' Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes' CryptoAsset & Blockchain Advisor where you can "uncover blockchain blockbusters poised for 1,000% plus gains!" The bitcoin price rocketed higher following U.S. president Donald Trump's November election victory but has struggled to hold onto that momentum as Federal Reserve chair Jerome Powell grapples with a looming, 'cataclysmic' crisis that's headed for the U.S. dollar. Now, as Tesla billionaire Elon Musk quietly backs a shock dollar collapse warning, Trump has confirmed a decision on the next Federal Reserve chair will be coming out soon, priming the bitcoin price and crypto market. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run "It's coming out very soon," Trump told reporters on Air Force One, it was reported by Reuters, referring to his pick for the next Fed chair. 'If we had a good Fed chairman, he would lower rates and if inflation happened in a year from now or two years later, [he would] raise rates,' Trump said in a video posted to X, reiterating his earlier calls for Fed chair Powell to cut interest rates immediately. The Federal Reserve is now overwhelmingly expected to keep rates on hold during its June and July meetings, with the market split over its September decision, according to the CME FedWatch tool. Trump added that former Fed governor Kevin Warsh, who's currently the front-runner to be named as next Fed chair on the crypto-powered prediction platform Polymarket, is 'very highly thought of,' when asked what he thought of him. Last month, Warsh outlined how he believed the Fed could lower interest rates if he shrunk its balance sheet, telling a monetary policy panel at Stanford University's Hoover Institution that "if the printing press could be quiet, we could have lower policy rates." If the Fed were to cut rates, it 'would be bullish for risk assets like bitcoin,' bitcoin price and crypto market analysts with the Bitfinex exchange said in emailed comments. 'We believe if bitcoin maintains support above $105,000, it could target the $120,000 to $125,000 range in June. This will not be catalysed just from the labour market but it could be a domino in multiple catalysts prompting the Fed to cut rates at a faster than expected pace.' This week, Trump again called for Powell to lower rates, which have been held steady for months after the Fed surprised markets by beginning its rate cutting cycle in September. The Fed has pointed to the looming impact of Trump's global trade tariffs as the reason it has left rates on hold, predicting Trump's so-called Liberation Day barrage of tariffs will cause inflation to spike. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious This coming week, the latest U.S. consumer price index (CPI) inflation data is expected to show an uptick in prices after inflation eased in the first few months of 2025. In April, the White House confirmed Trump was exploring whether he could fire Federal Reserve chair Jerome Powell over Powell's refusal to lower rates, though Trump has since said he won't try to remove Powell before his term as chair ends next year. "With rate cuts looking less likely, Fed chair Jay Powell can expect to remain firmly in the president's firing line," Nicholas Hyett, investment manager at Wealth Club, said in emailed comments and pointing to Friday's stronger than expected jobs data. 'That will be taken as vindication by the Trump administration–which has been clear that the tariffs are aimed squarely at supporting Main Street rather than pleasing Wall Street. Less positive from the White Houses' point of view is that a strong economy and rising wages gives the Federal Reserve less reason to cut interest rates–pushing yields a touch higher and making the fiscal splurge built into Trump's 'Big Beautiful Bill' that bit more expensive.'
Politico
an hour ago
- Politico
Trump and Musk aides have spoken amid pause in hostilities
The shaky detente in the social media strife between President Donald Trump and Elon Musk is holding following a call between representatives for both sides Friday, according to two White House officials. 'He's stopped posting, but that doesn't mean he's happy,' one of the officials said about Trump's Truth Social hiatus with Musk. 'The future of their relationship is totally uncertain,' added the official, who was granted anonymity to speak freely. Both men have paused their war of words that included Musk suggesting the president be impeached and Trump threatening to cut off federal contracts for the billionaire's companies. But neither wanted to, according to the two officials familiar with the reaction of both men. A spokesperson for Musk did not return a message seeking comment. Trump was particularly peeved by Musk insinuating the president was tied to the late sex offender Jeffrey Epstein, claiming Trump was 'in the Epstein files.' It's long been public that Trump and other prominent figures are referenced in documents released in court cases surrounding Epstein, though Trump has not been accused of any wrongdoing linked to Epstein. But Musk's boast that Trump couldn't have won without his support, including over a quarter-billion dollars in political contributions – is what really set the president spinning, the two officials continued. 'Such ingratitude,' Musk wrote on X after taking credit from Trump's victory in November. The feud came as the president and Republican leaders tried to shoulder through a major package of domestic policy legislation, which could be the biggest legislative achievement of Trump's second term. Musk criticized the so-called megabill for having a 'MOUNTAIN of DISGUSTING PORK.' When reached for comment, press secretary Karoline Leavitt told POLITICO, 'As President Trump has said himself, he is moving forward focused on passing the One Big Beautiful Bill.' The relationship began to sour before the dueling social media posts erupted last week. Trump was upset about what he saw as Musk overselling DOGE's inability to make massive cuts in the federal bureaucracy. Then the White House pulled the nomination for Jared Isaacman, the billionaire's pick to lead NASA, which was one of the final tethers in a tenuous alliance. White House personnel director Sergio Gor, who was behind that move, has had a long-simmering tension with the billionaire, according to both White House officials. Musk refused to work with Gor after a March Cabinet meeting where the president told his agency heads they were in charge of their departments — not Musk, who was in the room. That meeting happened after the Tesla founder set off a series of mass firings and warnings to government workers that in turn triggered lawsuits and criticism from both Democratic and Republican lawmakers. While most lawmakers and Republican operatives agree that Trump ultimately has the upper hand should their feud reignite, there's never been an adversary quite like Musk: the world's richest man with an online megaphone to rival the presidential bully pulpit.
Washington Post
an hour ago
- Washington Post
A diminished DOGE reels from the departure of the ‘Dogefather,' Elon Musk
Cabinet officials and senior staffers across the Trump administration are reclaiming power from Elon Musk's U.S. DOGE Service, a trend that began long before the billionaire's relationship with President Donald Trump exploded in public acrimony days after Musk formally left his White House post. As Musk departed, some of his top lieutenants were streaming out of government. Among those heading for the exits even before Musk and Trump began feuding, according to a White House official speaking on the condition of anonymity to discuss sensitive information: longtime aide Steve Davis, who was overseeing cost-cutting efforts; lawyer James Burnham, DOGE's general counsel; and DOGE adviser Katie Miller, who is married to White House Deputy Chief of Staff Stephen Miller. Katie Miller is reportedly taking a job with Musk. Meanwhile, Cabinet officials — some of whom had clashed with Musk — are moving to rehire workers who had been pushed out by DOGE. And while the group retains some clout, with DOGE staffers moving into permanent jobs in some agencies, unaffiliated political appointees in other departments have been forcing the cost-cutting group to back off. Despite the exodus, White House officials said the administration remains dedicated to rooting out waste and abuse. The administration has asked Congress to cancel more than $9 billion in spending for global health aid and for public broadcasting in the United States, an early gauge of lawmakers' appetite for codifying DOGE's cuts. And the White House budget office has proposed cutting $163 billion — nearly 25 percent — from agency budgets in the fiscal year that begins in October. 'DOGE is in the DNA of the federal government, and the president is committed to seeing this mission through,' said White House spokesman Harrison Fields. 'No one is under the impression that DOGE is somehow going to disappear.' White House budget director Russell Vought is expected to pick up where Musk left off in cutting federal spending, according to two people with knowledge of the matter, speaking on the condition of anonymity for fear of retribution. An architect of Project 2025, a policy blueprint put together between Trump's terms, Vought told a House hearing Wednesday that the Trump administration is eager to send more requests to eliminate previously appropriated funds as DOGE shifts from a consulting role to a position 'far more institutionalized' at OMB. Still, by DOGE's somewhat haphazard accounting, the initiative has saved only about $180 billion, a fraction of the $2 trillion Musk initially vowed to cut. That performance — along with a general recognition that DOGE created unnecessarily high levels of chaos — has left remaining members of the cost-cutting group facing growing skepticism among agency officials who, after Musk's blowup with Trump on Thursday, no longer need to fear retaliation from the world's richest person. 'DOGE was able to work its will because there was the perception that Musk was so close to the president that these orders were coming from the president,' said Elaine Kamarck, a senior fellow at the Brookings Institution, who ran a 'reinventing government' initiative during the Clinton administration. 'Now you've got a different situation.' At the Federal Aviation Administration, for example, the DOGE team suffered a setback this week when leadership nixed their access to FAA buildings, a command center in Warrenton, Virginia, and the Air Traffic Academy in Oklahoma City, according to an employee briefed on the matter and records obtained by The Washington Post. Four DOGE staffers were also stripped of their credentials and user accounts inside the FAA's internal computer systems, the records show. As of June 2, the staffers — Brady Glantz, Samuel Smeal, Tom Kiernan and Theodore Malaska, all of whom are employees of Musk's SpaceX — no longer bear the title of 'senior adviser to the administrator' on their online profiles within the agency, per the records. In fact, their profiles no longer show any job title at all — nor an affiliated organization, manager, email or phone number, the records show. In a briefing Monday, managers explained their removal by noting the team owed its creation and power to an executive order, not an act of Congress — and that Musk was stepping down after his term as a 'special government employee' ended, according to an employee who attended, who spoke on the condition of anonymity for fear of retaliation. 'So they're being pushed out,' the employee said. DOGE still maintains a strong presence at the agencies that oversee federal spending, real estate and logistics. Its initial areas of focus included the Treasury Department, the Office of Personnel Management and the General Services Administration, where key allies are still guiding technology modernization efforts. At some other agencies, DOGE representatives have amassed powerful jobs and portfolios. In April, Interior Secretary Doug Burgum issued an order granting sweeping new powers to DOGE staffer Tyler Hassen, a former oil executive, The Post reported. Under Burgum's order, Hassen is now leading a campaign to 'create significant efficiencies' and eliminate 'redundant efforts' across Interior, including in IT, human resources, financial management and international affairs. About a week later, the Energy Department named a DOGE team member, Carl Coe, as chief of staff, a top job that helps decide who has access to the energy secretary, according to an email obtained by The Post. His appointment will help 'tackle the challenge of strengthening and securing the U.S. energy stem and ensuring America can lead the global race for AI leadership,' the email noted. 'The chief of staff is, behind the scenes, the duck paddling under the water making things happen,' said one Energy employee, who spoke on the condition of anonymity for fear of retribution. 'DOGE could control the direction of the agency now.' Elsewhere, DOGE associates brought on for their reputation as business leaders have exerted command over agency staff, overseeing new initiatives within government. Sam Corcos, a start-up founder, has been overseeing DOGE's work at the IRS, which is increasingly looking to off-load otherwise-monotonous agency work to artificial intelligence programs, according to a person familiar with the matter, speaking on the condition of anonymity to discuss sensitive information. And Airbnb co-founder Joe Gebbia has been overseeing DOGE's attempts to modernize the federal government's paper-based retirement system, which is run through the Office of Personnel Management. Gebbia was seen by Musk allies as potentially taking over some of the broader DOGE portfolio when Musk left. But now his fate is unclear, according to a person familiar with ongoing discussions over DOGE's role after Musk's departure. Resistance to DOGE in other agencies predated Musk's blowup with Trump. In early May, staffers who said they were with DOGE roamed around secure facilities within Navy Air Station Patuxent River, a Defense Department installation in Maryland where test flights and other sensitive work are carried out. One DOGE staffer reportedly walked in behind another government worker to gain access to the building, a Defense employee said — prompting a warning from installation security officials. 'At this time, [Navy Air Systems Command] Security is considering this an unauthorized access attempt,' a security official wrote in email obtained by The Washington Post. The email instructed staffers to report people representing themselves as DOGE staffers to security officials or base police, to refuse to allow anyone to follow them into buildings, and to be on alert for suspicious behavior. In a statement, a Navy official denied that DOGE's entry into an air station was treated as a security breach. 'DOGE representatives met with NAVAIR personnel … The meeting was scheduled. We have no record of DOGE seeking unauthorized entry into NAVAIR facilities on NAS Patuxent River,' said Cmdr. Tim Hawkins, a Navy spokesman. 'Reports to the contrary are unsubstantiated.' In a move that could eventually infuse DOGE with more power, the Supreme Court on Friday ruled in two emergency decisions that the group could access sensitive Social Security data again, ending a legal restriction that had lasted for months. The court also ordered a judge to narrow a separate order requiring DOGE to submit discovery in a FOIA lawsuit. James Fishback, CEO of the investment firm Azoria who developed the idea of paying a portion of DOGE's savings directly to American taxpayers, predicted that the group is not dead yet. 'The truth is that Elon set expectations that he relayed to the President, me, and the country that he did not come close to fulfilling,' Fishback said. But 'DOGE's next chapter — under new leadership — will fully deliver on President Trump's mission of cutting waste, looking out for taxpayers, and making government leaner and more accountable.' Still, as the week wound down, some federal employees took a few moments to celebrate the diminishment of DOGE, however brief. One Interior employee said he and colleagues worked extra-hard, reveling in their government jobs as DOGE seemed to be on the way out. Then he went home and ate some ice cream. At the FAA, a group of staffers went out for post-work drinks to toast the banishment of DOGE staff. Then they offered a more solemn toast to the more than two dozen colleagues they'd lost along the way.
