Dogecoin is trying to confirm a wider recovery after its market cap broke a downtrend and moved into the 200-week moving average. At the same time, the DOGE/COPPER ratio has also broken its own downtrend, adding another early signal that DOGE is attempting to regain strength. Dogecoin Market Cap Tests 200 WMA After DOGE Breaks Downtrend Dogecoin’s market cap is testing the 200-week moving average after breaking above a short-term downtrend, putting the next DOGE move near a key resistance zone. The weekly chart shared by Surf on X shows DOGE market cap at about $17.79 billion. The chart also shows a rounded bottom structure forming after a long decline from the 2024 and 2025 highs. Dogecoin Market Cap Weekly Chart. Source: Surf on X DOGE market cap recently broke above a descending trendline that had capped the recovery attempt. That breakout shifted focus to the 200-week moving average, which now sits near the current market cap range. Surf said the 200 WMA is acting as resistance. The chart shows DOGE market cap pressing into that moving average after the downtrend break, but it has not yet confirmed a clean move above it. The rounded bottom structure suggests DOGE market cap has been building a base after months of lower levels. This pattern often shows a slow shift from selling pressure to recovery attempts, but confirmation still depends on a stronger break above resistance. If DOGE market cap clears the 200 WMA, the next move could target the $21.5 billion area shown on the chart. A stronger continuation could bring higher resistance zones near $25.5 billion and $31.5 billion back into focus. However, failure at the 200 WMA would keep DOGE under pressure. In that case, the market cap could retest the $15.5 billion to $13 billion range, where buyers previously stepped in. For now, Dogecoin’s setup depends on whether the market cap can turn the 200 WMA from resistance into support. A clean break above that level would strengthen the rounded bottom structure, while rejection would keep DOGE inside a broader recovery range. Dogecoin Copper Ratio Breaks Downtrend as DOGE Setup Shows Early Recovery Dogecoin’s ratio against copper has broken above a descending trendline on the weekly chart, showing an early recovery attempt after a long decline. The chart shared by Surf on X shows DOGE/COPPER trading near 0.01808 after rebounding from the lower support zone around 0.016. The ratio had been moving lower under a steep downtrend line since its 2025 high, but the latest move pushed it above that structure. Dogecoin Copper Weekly Chart. Source: Surf on X The breakout suggests DOGE is trying to regain strength relative to copper after months of underperformance. The move remains early, as the ratio still trades far below the larger highs seen in 2024 and 2025. The chart also shows a horizontal support area near 0.016. DOGE/COPPER bounced from that zone before breaking the short-term downtrend, which makes it the key level to watch if the recovery slows. Surf called the move a “clean wave,” pointing to the shift in structure after the trendline break. The lower indicator also shows a similar downtrend breakout, adding support to the recovery setup. If DOGE/COPPER holds above the broken trendline, the ratio could move toward the 0.021 area first. A stronger recovery could then bring the 0.027 and 0.035 zones back into focus. However, a move back below 0.016 would weaken the setup. That would put DOGE/COPPER back near its previous base and reduce the strength of the breakout. For now, the ratio is showing an early trend shift. DOGE needs follow-through above 0.021 to confirm stronger relative strength against copper.
