🔥 DOGE Double Bottom Signals 80% Rally—Bulls Ready to Unleash? 🚀🐕

As altcoins rose, Dogecoin (DOGE) prices rose almost 17% in the previous week, bringing the crypto market worth above $4 trillion. The renowned cryptocurrency is currently encountering severe resistance around $0.25, which might affect its upward momentum.

DOGE daily chart suggests a short-term rise. DOGE's six-month price movement has formed a double bottom pattern, a technical setting that usually indicates a bullish trend reversal.

Bullish double bottom patterns have two almost equal lows separated by a peak, or neckline. The chart above shows DOGE making lows between $0.13–$0.15 in April and June, followed by a recovery to $0.25 in May, the neckline.

DOGE has returned to $0.24 after the crypto market rally last month, completing the W shape of the double bottom pattern. To confirm the bullish potential of this chart pattern, bulls must break over $0.25 barrier, which is usually seen as a strong buy signal indicating additional rises.

The strong rebound from June lows demonstrates bullish momentum with buyers buying with increased volume, propelling price movement upward practically continuous. DOGE may surge to $0.42 after clearing the $0.25 neckline, indicating an 82.3% gain on market prices.

However, another rejection around $0.25 would impair bullish momentum and likely return to $0.13–$0.15 support levels.

The asset's daily trading volume is up 108.5%, indicating more market involvement and positive momentum as traders prepare themselves for a protracted upswing.

DOGE is the ninth-largest cryptocurrency and memecoin with a $34.95 billion market value.

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