Dogecoin (DOGE) posted a rare weekly bearish cross — the 20-week exponential moving average falling below the 200-week EMA — just as the token trades at $0.10, stuck in a $0.08–$0.13 range that has analysts divided over whether last week's selloff marked a bottom or the start of a deeper decline.

What Happened; Weekly EMA Crossover

Technical analyst Charting Guy flagged the signal, arguing that DOGE has historically bottomed around the point when the 20-week EMA crosses below the 200-week EMA. "That happened last week," he wrote, adding that he increased his position by 50% at the lows.

Not all traders share that conviction. Daan Crypto Trades called the bounce off $0.08 constructive but framed the move as a range trade, not a trend reversal. "Currently seeing this $0.08–$0.13 area as a large range," he posted. "Anything above that point would make me confident in a further move towards the Daily 200MA/EMA. Currently near the middle so hard to really assume a direction here the way it's trading."

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Why It Matters; Liquidation Risk Looms

João Wedson, CEO of Alphractal, struck a sharper tone, warning: "If you are long on Doge, you will likely be liquidated soon!" An aggregated liquidation heatmap shared by the firm shows thick bands of potential liquidation levels sitting below DOGE's current price, suggesting stop-driven cascades if the token breaks lower.

Wedson also tied DOGE activity to broader market conditions, calling the memecoin's rallies "a risk signal for Bitcoin (BTC)" that "usually happens when Bitcoin is moving sideways."

Alphractal noted that memecoin trading volume had recently outpaced BTC and other altcoins, with Dogecoin leading in number of trades — though that momentum had already begun to fade.

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