Bitcoin’s recent decline has created an unexpected opportunity in one corner of the market, and it’s not coming from BTC itself. Attention shifted to the DOGE/BTC trading pair, which has returned to a key area of support suggesting a quiet opening. Dogecoin’s strong performance.
One trader known as Jimmy on If the level continues.
DOGE/BTC has very strong support
Jimmy’s Technical Analysis Highlights One fundamental idea: The DOGE/BTC pair is sitting on what he described as “very strong support.” As can be seen in the chart below, Dogecoin is currently consolidating at the same fundamental level as before its peak outperformance phase against Bitcoin during the daily candlestick period.
If you look closely at the chart, you will see that whenever this support line has been touched since 2024, there has been steady and sometimes explosive upward movement. What is this consistency? This makes retesting important now.
The most memorable thing among them is It was a rally in mid-2024, A similar retest sparked Dogecoin’s strength for several months. The move took the pair from roughly 0.00000170 to 0.00000450 before momentum finally cooled.
As of this writing, the DOGE/BTC pair is trading around 0.00000170 again. With this demand zone tapping again, the gradual downtrend of the currency pair will slow down and the pair will decide. Is another rebound forming? Beneath the surface.
The long-term pattern reflects fatigue among sellers and potential build-up similar to the early stages of previous runs.
Even the RSI on the chart is in a neutral band but is starting to curl upwards in low momentum areas. If this support holds, it will reinforce the idea that Bitcoin’s dominance could be at its peak while Dogecoin prepares for a rebound against major cryptocurrencies.
Whale says, “You should sell Bitcoin and buy Dogecoin.”
The most important part of Jimmy’s comment is that if you are a Bitcoin whale, I’m going to hit DOGE and live.
His point has to do with relative value. At this support, the DOGE/BTC ratio reached one of its lowest points in years. This means that Dogecoin is cheaper compared to Bitcoin. If previous performances are repeated, Dogecoin could rebound from the support at 0.00000170 and open up against Bitcoin in the coming weeks.
The current Dogecoin spot price is Reflects the overall market mood. As of this writing, Dogecoin is trading at $0.1553, down 4.3% in the last 24 hours. The overall market is under pressure, with total cryptocurrency capitalization falling 5.1% over the same period.
Featured image from Peakpx, chart from Tradingview.com
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