Dogecoin Charts Flash 2020-Style Bull Signal, Crypto Analyst Says
The Dogecoin weekly chart is beginning to look eerily familiar. Crypto analyst Cantonese Cat, posting under the handle @cantonmeow, has published a threepane composite that reprises the technical cocktail seen just before the memecoins 2020/2021 meltup.
The graphic, released Friday on X, lays out Dogecoins price action, a Global M2 Liquidity Index and the WaveTrend/Weighted Trend Oscillator (WTO). Each metric is flashing almost the same alignment that existed in late 2020weeks before DOGE accelerated from fractions of a cent to an alltime high of $0.74 the following May.
The top panel displays weekly candles from the 2017 through midApril 2025. Dogecoin is presently quoted at $0.154, down 68% from its December 2024 peak at $0.484. A handdrawn black arch traces the DecembertoApril pullback, and a thick arrow anchors the apparent floor at $0.13. In late 2020, Cantonese Cat employed the same visual: a small rounding formation ended with an arrow, followed by a vertical breakout.
M2 And WTO Line Up Perfectly For Dogecoin
Beneath the price chart sits the Global M2 Liquidity Index, an amalgamation of the broad money supplycash, demand deposits and easily convertible nearmoneyacross the dollar, euro, yen, pound and yuan blocs. M2 is often cited as a proxy for systemic liquidity: when it expands, excess capital tends to migrate into risk assets; when it contracts, those same assets are starved of flows.
The index was moving sideways from 2022 until the beginning of 2025. Today, the line has resumed its climb after an almost three pause, printing 97 on Cantonese Cats scale and carving out a higher high.
The bottom pane hosts the WaveTrend/Weighted Trend Oscillator, an overboughtoversold indicator popularised on TradingView screens. The WTO plots a fast and signal line on a ±100 band; moves below 50 reflect exhaustion, while bullish crossovers of the two lines out of that zone have historically marked durable lows.
In December 2020 the oscillator bottomed, turned upward and crossed positive in December 2020precisely as DOGEs consolidation ended. As of last week, the WTO seems to be printing a bottom again and the fast line is curling up through its signal, hinting that negative momentum is bleeding away.
Cantonese Cats argument is therefore threepronged: price is compressing in a continuation pattern, global liquidity is pushing to fresh cycle highs, and internal momentum has shifted from deeply oversold toward recovery. The last time those signals converged, Dogecoin outperformed every major digital asset for half a year.
Cantonese Cats tongueincheek reminderWhen it pumps, youre in it for the techmasks a serious point. Dogecoin still trades more like an option on global liquidity than a payment network. As fresh liquidity returns, the chart suggests that option may be reinstating its leverage.
At press time, DOGE traded at $0.155.
Text source: NewsBTC
