We are likely witnessing a potential start of a new rise in Dogecoin (DOGE). Trader Trader Tardigrade noted that Dogecoin has demonstrated a 'false breakout' for the first time since December 2024 — a price maneuver that often precedes a strong market reversal in the opposite direction.

Thus, the coin is currently holding above the support level of $0.153, which confirms the nature of such a false breakout. This could serve as a launchpad for a new 'bullish' cycle.

At the time of writing, the price of Dogecoin was $0.1742, which is 4.5% lower than yesterday. Overall, since the beginning of the year, the asset has lost nearly 52% of its value. Despite the current volatility, technical observations regarding the 'false breakout' leave hope for a possible recovery in growth soon.

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