Dogecoin nears rare weekly death cross as 50 week average approaches 200 week level

Convergence on the weekly chart draws attention

While similar moving average crossovers have occurred on shorter timeframes, the weekly chart has offered very limited examples. Since February 2021, only three major crossovers have been observed on Dogecoin’s weekly chart—two bullish “golden crosses” and just one downward signal. The rarity of bearish signals at this scale makes the current convergence especially significant for technical traders.

Accordingly, this set-up holds added importance for investors who rely on technical signals. The last confirmed death cross at the weekly level happened in February 2023. Its possible reemergence now suggests the market is once again approaching a crucial threshold not seen in over three years.

If the 50-week moving average drops below the 200-week moving average, Dogecoin’s weekly chart could confirm a rare death cross signal.

How past crossovers impacted price

Historically, Dogecoin’s price action has shown some alignment with these technical signals. After a golden cross formed in February 2021, Dogecoin surged strongly in the following months. From $0.02 on February 1, 2021, the token soared to its all-time high of $0.74 in May 2021, marking an extraordinary gain of roughly 3,600%.

A similar upward move was seen after another golden cross in November 2024. Starting from October of the same year, Dogecoin rose for eight consecutive weeks, peaking at $0.48 by December 2024 before beginning to retreat.

The previous death cross produced muted reaction

In contrast, the single notable death cross seen on the weekly chart produced a relatively subdued market response. Following the bearish crossover in February 2023, Dogecoin traded within a tight range for an extended period. During that time, momentum remained weak and no strong trend emerged for several months.

This precedent suggests that the emergence of another death cross does not necessarily guarantee a sharp decline. Nevertheless, such rare signals on weekly indicators are still regarded as significant technical thresholds that could influence the broader direction of the market.

At the time of reporting, Dogecoin was trading at $0.074. In the coming weeks, the signal given by the 50- and 200-week moving averages will be closely watched and could become a decisive factor shaping Dogecoin’s medium-term trajectory.