Dogecoin’s consolidation has not broken its higher-timeframe uptrend, according to crypto analyst Cantonese Cat (@cantonmeow), who in an August 19 livestream argued that DOGE continues to respect key support structures despite choppy day-to-day price action. “A lot of people are very very bitter about Doge, of course,” he said, because the meme-coin “has been [forming] higher highs and higher lows.” In his view, the technical context remains constructive: “This is a bull trend until proven otherwise.”
On the daily chart, he acknowledged weakness relative to shorter moving averages and cloud resistance, noting that DOGE is “consol[i]dating sideways” and has “broken down underneath the 20-day.” He framed that as a routine reset within trend rather than a breakdown, pointing to Ichimoku dynamics: after being “rejected up here by the Ichimoku cloud a few weeks ago,” price is “trying to hold the tenkan/kijun back-testing area [to] find some energy here to break back above.”
As part of that attempt to rebuild momentum, he said, Dogecoin “just had a double bottom over here,” a pattern he reads as evidence of demand at support. Via X, he added: “DOGE weekly: Endless back-test of the Ichimoku Tenkan, but forming higher low here after its recent double bottom formation.”
Crucially, he situated his DOGE view within broader market-cap structures—what many traders track as TOTAL and its variants. On OTHERS (crypto market cap excluding Top 10), he observed that the composite “just broke about the 0.5 here and… couldn’t break through 0.618,” describing a market that is still consolidating within a Fibonacci-defined range.
At press time, DOGE traded at $0.21466.
