Date: Sun, April 27, 2025 | 10:45 AM GMT
After a challenging start to 2025, where Ethereum (ETH) plummeted by 45% in Q1, the cryptocurrency market is showing signs of recovery. ETH has risen by 13% over the past week, and this bullish momentum is now extending to memecoins, with Dogecoin (DOGE) exhibiting a particularly intriguing recovery pattern.
Following weeks of decline, $DOGE has achieved a 17% weekly bounce, reducing its year-to-date losses to 42%. However, the real excitement lies not just in the price movement but in the chart patterns, where a familiar fractal pattern is signaling a potential bullish trend.
Source: Coinmarketcap
DOGE Mirrors PEPE's Past Recovery Structure
DOGE is currently displaying signs reminiscent of a move from late 2023, when it completed a double bottom pattern and embarked on a bullish run. At that time, after forming a similar structure, PEPE experienced a gain of over 180% from its lows following a 68% correction.
PEPE and DOGE Chart Comparison/Coinsprobe (Source: Tradingview)
Now, history may be repeating itself. The chart indicates that DOGE recently underwent a 70% correction from its highs, closely aligning with PEPE's previous setup. It has now formed a clear double bottom near $0.1298 and has climbed back to $0.18, moving towards the 100-day moving average resistance.
A successful breakout above this resistance at $0.22 could confirm a trend reversal, with technical targets pointing toward the $0.35 – $0.38 zone, representing more than a 100% upside from the current price.
Final Thoughts
DOGE's recent price action and chart patterns suggest a potential bullish trend, mirroring previous successful fractal patterns observed in other cryptocurrencies like PEPE. Traders and investors should monitor the $0.22 resistance level closely, as a breakout above this point could signal a significant upward movement.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
