Dogecoin hits a fresh high on a crucial cycle metric: Is the bottom near?

crypthub

about 4 hours ago

New Positioning Metric

Dogecoin’s cycle‑style positioning metric has reached a record level not seen before. The chart shows only two previous times the market entered similar territory, both near major cycle lows. This suggests a potentially pivotal moment for the cryptocurrency.

“Days Spent at a Profit” Indicator

The metric counts how many past days traded above today’s price, reflecting market memory and holder positioning. Dogecoin has now exceeded 1,100 such days, the first time this threshold has been crossed. A higher count indicates today’s price sits below a larger portion of historical trading levels.

Historical Context

The metric previously surpassed 800 days only around the March 2020 bottom and the October 2023 bottom. In each case, the next months produced parabolic gains, taking DOGE from a low to multi‑hundred‑percent rallies. Those moves turned into some of the coin’s biggest uptrends.

Possible Outlook

Analyst Joao Wedson stresses this is a structural, long‑term signal rather than a short‑term swing indicator. The current reading could either repeat the pattern of cycle‑low breakthroughs or signal a new market regime. At the time of writing DOGE was trading near $0.097.