Automatic wave scan: as of 5 Nov 2026, the automatic daily count for Dogecoin is Wave A down with a bearish bias. The count stays valid while price holds 0.10589.
Current Dogecoin wave count
Automatic wave scan Updated daily from the latest daily close (5 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: the five wave advance from 0.06766 (1 Aug 2026) looks complete and price is in wave A, the first leg of a correction. Next levels to watch are 0.06403 and 0.05908. The view fails on a daily close above 0.10589.
Key levels
| Type | Levels |
|---|---|
| Resistance | 0.10589 · 0.07831 |
| Support | 0.06766 · 0.06952 |
| Invalidation | 0.10589 |
What is Dogecoin?
Dogecoin was created in December 2013 by software engineers Billy Markus and Jackson Palmer as a joke based on the popular Shiba Inu dog meme. It uses proof of work mining and is merge mined with Litecoin.
Unlike Bitcoin, Dogecoin has no supply cap. Each block pays 10,000 DOGE and blocks come about once a minute, which adds roughly 5 billion new coins every year. This steady inflation means demand must keep growing for the price to rise over time.
What moves the Dogecoin price?
- Social media and celebrities: Posts by well known people have caused some of Dogecoin's biggest daily moves.
- Retail risk appetite: DOGE rallies hardest late in crypto bull markets, when speculation is high.
- Payment adoption: News of companies accepting DOGE gives short term boosts.
- Supply inflation: About 5 billion new coins a year create constant selling pressure from miners.
- Bitcoin trend: DOGE rarely rallies far if Bitcoin is falling.
How Dogecoin moves in Elliott Wave terms
Dogecoin often spends long periods in quiet corrections, then rallies in short, vertical fifth waves driven by hype. These blow-off moves can end suddenly, followed by retracements of 80 percent or more.
Because of these spikes, Fibonacci extensions on DOGE can overshoot. Use the weekly chart to frame the larger cycle and do not chase late-stage rallies.
Tips for counting Dogecoin waves
Treat sudden spikes on news as possible wave 5 or wave B tops. Take partial profits at extension targets.
Dogecoin key facts
Dogecoin Elliott Wave FAQ
Does Dogecoin have a maximum supply?
No. About 10,000 DOGE are created every block, which adds roughly 5 billion coins per year.
Why does Dogecoin rise so fast?
Most of its demand comes from retail traders and social media trends. When attention spikes, buying can push the price up very quickly.
Is Dogecoin related to Litecoin?
Yes, in part. Dogecoin uses the same Scrypt mining method and is merge mined with Litecoin, so miners can secure both at once.
Sources and further reading
- Dogecoin (Wikipedia)
- Dogecoin project site (Dogecoin Foundation)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
