Analyst Suggests Selling Bitcoin To Buy Dogecoin, Here’s Why
Bitcoin’s latest pullback has created an unexpected opportunity in one corner of the market, and it is not coming from BTC itself. Attention has shifted to the DOGE/BTC trading pair, which has quietly returned to a major support zone that proposes the start of strong outperformance for Dogecoin.
One trader, known as Jimmy on X, has shared a chart that shows just how significant this support is, suggesting that the current structure may be preparing Dogecoin for a strong change in relative strength if the level continues to hold.
DOGE/BTC Is Sitting On Very Strong Support
Jimmy’s technical analysis highlights one fundamental idea: the DOGE/BTC pair is sitting on what he describes as a “very strong support.” As shown in the chart below, Dogecoin is currently consolidating at the same base level that preceded some of its largest outperformance phases against Bitcoin on the daily candlestick timeframe.
A closer look at the chart shows that each touch of this support since 2024 has produced a steady and sometimes explosive upward move. This consistency is what makes the current retest important.
The most memorable of these was the rally in mid-2024, when a similar retest sparked months of Dogecoin strength. That move carried the pair from roughly 0.00000170 to 0.00000450 before momentum finally cooled.
At the time of writing, the DOGE/BTC pair is back to trading around 0.00000170. The gradual drift downward on the pair has slowed as it taps this demand region again, leaving the pair to decide whether another rebound is forming beneath the surface.
The long-term pattern reflects exhaustion among sellers and a potential buildup similar to the early stretches of previous runs.
Even the RSI on the chart sits in a neutral band but has begun curling upward from low-momentum regions. If this support continues to hold, it would reinforce the idea that Bitcoin’s dominance may be peaking while Dogecoin prepares for a rebound against the leading cryptocurrency.
Whales Should “Sell Bitcoin And Buy Dogecoin”
The most important part of Jimmy’s commentary was his remark that if he were a Bitcoin whale, he would jeet and buy DOGE.
His point is tied to relative value. At this support, the DOGE/BTC ratio sits at one of its lowest points in years, meaning Dogecoin is cheap relative to Bitcoin. If a repeat of previous performance were to take place, Dogecoin could rebound from this support zone at 0.00000170 and push upwards against Bitcoin in the next few weeks.
Dogecoin’s spot price is currently reflecting the broader market mood. At the time of writing, Dogecoin is trading at $0.1553, down 4.3% in the last 24 hours. The entire market is under pressure, with total crypto capitalization dropping by 5.1% over the same period.
Featured image from Peakpx, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
