In the context of the altcoin market recovering collectively, the price of Dogecoin (DOGE) has increased by nearly 17% in the past week, contributing to pushing the total cryptocurrency market capitalization over the 4 trillion USD mark. However, DOGE is currently facing strong resistance at the price level of 0.25 USD, a factor that may affect short-term bullish momentum.

📊 Double Bottom Pattern – Strong Bullish Reversal Signal

The daily technical chart of DOGE shows a notable setup: the double bottom pattern – often seen as a reversal signal from a downtrend to an uptrend. This pattern consists of two bottoms of similar depth, separated by a peak in the middle – also known as the neckline.

  • Specifically, DOGE formed two bottoms around the area of 0.13 – 0.15 USD in April and June.

  • After that, the price recovered to 0.25 USD in May, forming a peak in the pattern.

  • The recent surge brought DOGE back to the area of 0.24 USD, completing the shape of a “W” – a complete sign of the double bottom pattern.

If the price breaks through the 0.25 USD mark, this will be a confirmation signal for the pattern and open up the potential to rise to the area of 0.42 USD – equivalent to an increase of about 82.3% compared to the current price.

📈 Trading Volume Surges – Participation from Individuals and Institutions

Another positive factor is that the daily trading volume has increased by over 108.5%, indicating stronger participation from traders. This reinforces the bullish trend and shows confidence in the potential breakout in the near future.

Moreover, the strong recovery from the June low also indicates that buyers are controlling the market, as the price is 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 revisit the support area 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 holds the position of the 9th largest cryptocurrency, with a market capitalization of 34.95 billion USD. The development of DOGE not only reflects the community's preference but also signifies the latent strength of memecoins during the growth market phase.

📌 Conclusion:

  • The double bottom pattern of DOGE is clearly forming, with the potential to increase over 80% if it surpasses the resistance area of 0.25 USD.

  • The significant increase in trading volume indicates market enthusiasm.

  • However, if it fails at 0.25 USD, the price may return to the previous low.

Investors should closely monitor the price level of 0.25 USD – this is the "critical zone" that determines the next direction of $DOGE .