Dogecoin is surging again. This popular meme coin just skyrocketed over 17% in just one day, outperforming other major memecoins like BONK, PEPE, and FLOKI. Currently, DOGE is trading at just below $0.25, and the frenzy is spreading rapidly.

While the entire cryptocurrency market is enjoying a strong bullish wave, Dogecoin seems to be creating its own bullish narrative. And according to reputable analyst Ali Martinez, the next move could be even bigger.

Ali Martinez Discovers Double Bottom

In a recent post on X, Martinez shared a clear technical chart showing that a double bottom pattern is forming on DOGE's daily chart. This classic reversal pattern is known for its ability to signal a shift from a bearish trend to a bullish trend - often followed by a strong breakout.

Here's what he said:

“Dogecoin $DOGE seems to be forming a double bottom pattern, targeting the $0.42 level!”

The pattern shows two major bottoms – one at the end of April and one in mid-June – forming the characteristic 'W' shape of this pattern. The neckline, located around $0.25, is acting as a crucial resistance level. DOGE is currently testing this area, and if the price closes above this level with high trading volume, a bullish breakout scenario could occur quickly.

What Happens Next?

If the breakout is confirmed, the chart that Ali posted will outline the potential path to reach $0.42, corresponding to an increase of over 70% from the current level.

This forecast seems reasonable technically. The distance from the bottom of the 'W' (around $0.13) to the neckline (around $0.25) is about $0.12. If you add the breakout point, you will have a target close to $0.37 to $0.42 – exactly what the analyst outlined.

Martinez's chart also suggests a stair-step pattern to achieve the target – meaning a gradual, healthy climb rather than sudden spikes and drops.

Is It Too Late to Join?

Not necessarily – but traders should be cautious. The $0.25 level is a significant resistance level, and DOGE needs to close strongly above this level before confirming the breakout. If rejected here, a short-term correction could occur.

However, the context seems very strong. Volume is increasing, market sentiment around DOGE is turning back to bullish, and if the bullish momentum of altcoins in general continues, Dogecoin could maintain this growth trajectory until it reaches its target. #Write2Earn $DOGE