Trader Cantonese Cat says Dogecoin’s monthly Fisher Transform has flipped bullish again — a signal that, historically, has coincided with long basing phases rather than instant breakouts.
The trader’s chart, posted on X on May 14, shows DOGE around $0.1146 after a multi-month slide from its 2024 highs, with the Fisher line climbing out of deeply negative territory. The Fisher Transform is a momentum tool that normalizes price action to help spot potential reversals; a “bullish flip” happens when the Fisher line crosses above its signal line after an oversold trough. Because this is visible on the monthly chart, it’s a slow, regime-level signal — useful for identifying a shift in market character, not a short-term trade trigger.
Cantonese Cat tempered expectations. In response to a follower asking whether it could be “2 more years to see [a] god candle,” the trader replied: “It’s true, it may consolidate for longer, but it depends on how impulsive liquidity goes. I’m OK with it being slow as long as it bottomed.”
History supports that cautious reading. Comparable past Fisher flips came before lengthy recoveries rather than immediate melt-ups:
- 2019: DOGE closed near $0.0018 in early February and finished the year at $0.00437 — a roughly 143% rebound from the trough, but more of a recovery from a depressed base than a blow-off top.
- 2020–2021: After falling to $0.00125 during the COVID market crash in mid-March 2020, Dogecoin later surged to an all-time high of $0.7316 on May 8, 2021 — a roughly 58,400% rally over about 14 months. The key takeaway: the structural bottom came well before speculative mania peaked.
- 2022–2024: DOGE bottomed at $0.04908 on June 18, 2022 and reached $0.4825 in December 2024 — roughly an 883% advance across ~2.5 years, with multiple rallies but no single-month blow-off.
The current setup looks more like those extended basing periods than a confirmed breakout. DOGE’s 2026 yearly low sits near $0.0813; the move to roughly $0.114–$0.115 shows the token has lifted off the low but remains far beneath the prior cycle’s range high.
That’s why the Fisher flip is best read as a momentum reset rather than a price target. For bulls it suggests monthly downside pressure may be easing after a deep oscillator trough. For skeptics the warning is clear: similar flips have sometimes preceded prolonged consolidation, and any major rally will still require sufficient liquidity and risk appetite to turn a technical base into sustained demand.
At press time, DOGE traded at $0.1137.
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