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Technical Analysis

PEPE & DOGE accumulation zones remain strong

Published: Jan 30, 2025
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PEPE and DOGE continue to hold key accumulation zones, with liquidity and demand supporting their strength. Despite market corrections, both assets show resilience, offering high-probability buy zones for potential upside. Will meme coins make their next move? Let's break down the latest price action.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


PEPE:

Market context

Pepe (PEPE) has established itself as one of the strongest-performing meme coins, demonstrating a clear higher high, higher low structure on the weekly timeframe. This structure indicates that buyers are consistently stepping in at higher levels, bidding the asset up aggressively during retracements.

The buy box for PEPE has been established between 0.0000113 and 0.000008, a range that aligns with the 61.8% Fibonacci retracement level from the January 2024 swing low. This level was formed just before the Bitcoin ETF approval and the pre-halving narrative, both of which catalyzed market-wide bullish price action.

The upper end of the buy box corresponds with the December 9th swing high, which was set in the aftermath of Trump's post-election market rally, a period that saw significant meme coin bidding.

Despite broader market saturation and capital dispersion across newer, more speculative meme assets, PEPE maintains its position as a higher-standard meme coin due to its deep liquidity, widespread exchange listings, and accessibility for retail traders.

PEPEUSDT weekly chart on Binance showing key Fibonacci retracement levels, a buy zone, and price action trends for accumulation strategy.

Playbook

Spot accumulation

  • Buy Zone: $0.0000113 - $0.000008.
This range represents a key accumulation zone, aligning with historical demand and Fibonacci retracement levels, where buyers have repeatedly demonstrated strong interest.

Volume reinforcement

This buy box is further validated by an increase in trading volume at these key levels, signalling heightened buyer activity and conviction. The volume spike at this range indicates that market participants are actively accumulating, reinforcing this zone as a high-probability entry point.

Cryptonary's take

PEPE has solidified itself as a blue-chip meme asset, benefiting from high retail engagement, strong liquidity, and broad accessibility. Its technical structure supports higher timeframe bullishness, and it remains one of the easiest choices for retail speculation in the meme coin sector.

With a well-defined accumulation zone and the potential for high-impact catalysts, PEPE remains a high-conviction trade for both spot accumulation and momentum plays. The buy box at 0.0000113 - 0.000008 presents an attractive entry, with upside targets aligning with key resistance levels.


Dogecoin (DOGE):

Market context

Dogecoin remains firmly within the $0.30-$0.35 buy box, showing resilience despite a 45% drawdown from its recent highs. It has recovered well and continues to hold strong at this accumulation zone. While Bitcoin remains dominant, Dogecoin's breakout from its bearish DOGE/BTC structure highlights its significance this cycle.

DOGE/USD analysis

  • Buy box: $0.30-$0.35 is still the key accumulation zone, supported by strong demand.
  • Price action: A weekly hammer candlestick is forming, indicating strong buyer interest. The weekly close will provide more clarity.
  • If support breaks: A break below $0.30 would require reassessing the buy box after a confirmed weekly close below this level.
Dogecoin (DOGE) daily chart on Binance highlighting key buy zone between $0.30-$0.35, with price action forming a potential reversal setup

Playbook

Spot accumulation: Continue building positions in the $0.30-$0.35 range, as it remains a high-probability zone.

Upside targets

  • DOGE/USD: First target at $0.43, with a mid-term target at $0.75.
  • DOGE/BTC: Targeting the October 2022 high.

Cryptonary's take

Dogecoin has held up well within its buy zone, showcasing resilience and strong support. The recovery from its recent drawdown highlights renewed interest and demand. While consolidation is possible, this remains an excellent area to accumulate, with clear upside targets and room for further growth.


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