Dogecoin $Doge Aims for $0.47 as Double Bottom Pattern Forms

Dogecoin traders are eyeing a potential price surge as a double-bottom pattern emerges on the weekly chart, signaling a possible sharp upward reversal. The critical support level at $0.142, successfully held by bulls in April 2025 and currently under defense, is key to this pattern. A sustained hold could drive the price toward the neckline resistance at $0.26, and breaking this level may pave the way for a target of $0.47.

The ADX indicator, trending downward, suggests the recent downtrend from the neckline is losing momentum, supporting the potential for a recovery. However, consolidation around the $0.142 support is possible if the RSI remains below 50. While RSI is showing increased buying interest, a move above 50 would strengthen the bullish case for a rally to $0.47.

In summary, Dogecoin is at a pivotal moment, fueled by optimism around a potential spot DOGE ETF approval. With bulls defending the $0.142 double-bottom support, accumulation by retail and whale investors could drive the price to the $0.47 target.

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