$DOGE The cup and handle pattern of Dogecoin: A sign of bullish momentum

The formation of the classic cup and handle pattern signals a potential upward trend for Dogecoin. This technical analysis often indicates a period of accumulation before a breakout. After struggling through a bear market since the all-time high in May 2021, the chart pattern shows a rounded bottom extending into late 2023.

Recently, the price reacted positively by breaking above the descending trendline in early 2024, reaching a high of $0.2408 before a corrective action pushed it back to $0.1934 — a decrease of 19.28% in one session. This pullback can be seen as a healthy retest of the breakout area, setting the stage for a future upward rally.