DOGE Forms Double Bottom Pattern – 80% Rise Signal Being Activated?

In the context of the altcoin market bouncing back, the price of Dogecoin (DOGE) has increased by nearly 17% over the past week, contributing to pushing the total market capitalization of cryptocurrencies beyond the 4 trillion USD mark. However, DOGE is currently facing strong resistance at the price zone of 0.25 USD, a factor that could impact bullish momentum in the short term. 📊 Double Bottom Pattern – Strong Bullish Reversal Signal The daily technical chart of DOGE shows a notable setup: the double bottom pattern (double bottom) – often regarded as a reversal signal from a bearish trend to a bullish one. This pattern consists of two equally deep bottoms, separated by a peak in the middle – also known as the neckline (neckline). Specifically, DOGE has formed two bottoms around the zone 0.13 – 0.15 USD in April and June. After that, the price bounced back to 0.25 USD in May, creating a peak in the pattern. The recent increase has brought DOGE back to the zone 0.24 USD, completing the shape of the letter "W" – a complete sign of the double bottom pattern. If the price breaks through the 0.25 USD mark, this will be a signal confirming the pattern and opens up the potential to increase to the 0.42 USD zone – equivalent to an increase of about 82.3% compared to the current price. 📈 Trading Volume Soars – Participation of Individuals and Organizations Another positive factor is that the daily trading volume has increased by more than 108.5%, indicating stronger participation from traders. This reinforces the bullish trend and demonstrates confidence in the potential breakout in the near future. In addition, the strong rebound from the June bottom also shows that buyers are controlling the market, as prices are continuously pushed up with large and stable volumes. ⚠️ Risk If Rejected At 0.25 USD However, if DOGE continues to be rejected at the resistance level of 0.25 USD, the double bottom pattern may fail, causing the price to return to test the support zone of 0.13 – 0.15 USD once again. This would be a negative scenario that investors need to pay attention to. 🐕 DOGE – From Meme to "Mega Cap" Currently, Dogecoin is holding the position of the 9th largest cryptocurrency, with a market capitalization of 34.95 billion USD. The development of DOGE not only reflects the popularity among the community but also indicates the potential strength of memecoins during the bullish market phase. 📌 Conclusion: The double bottom pattern of DOGE is becoming clearly defined, with the potential to increase by more than 80% if it breaks through the resistance zone of 0.25 USD. The trading volume has surged, indicating market excitement. However, if it fails at 0.25 USD, the price may revert to the previous bottom zone. Investors should closely monitor the price zone of 0.25 USD – this is the "zone of life and death" that will determine the next direction of $DOGE. {spot}(DOGEUSDT)