Doge Approaches Double Bottom Neckline – Is a Major Breakout Imminent?
By [Ariel]
DOGE is currently testing the neckline of a clearly formed double bottom pattern, a textbook bullish reversal formation that could signal the beginning of a major upward move. This structure is especially visible on the higher timeframes, giving it added weight in technical analysis terms. The meme coin may be setting the stage for a potential explosive breakout.
Currently trading around $0.241, Dogecoin has successfully established two solid lows near the critical $0.15 support level. This creates the foundation for the double bottom pattern. Now, price action is testing the key resistance zone around $0.25–$0.27. A clean breakout above this neckline could activate the pattern’s measured move, pointing toward an ambitious target of $0.47—derived from the height of the formation.
What's particularly encouraging is the gradual increase in trading volume, a signal that market participants are paying attention. Should Doge print a decisive daily candle above the $0.27 resistance, especially with volume confirmation, it could ignite the long-awaited "heavy pump" that’s been on every bull's radar.
📌 Key Level to Watch:
A confirmed break and close above $0.27, and $DOGE might not look back.