Dogecoin’s bullish double-bottom pattern sets a clear rebound target at $0.3753, offering a 132 percent upside.
Trading volume surged 13% in one day, reflecting renewed interest in DOGE amid technical setup developments.
The ongoing Musk-Trump conflict has had no direct effect on Dogecoin’s trajectory, marking a shift from personality-driven volatility.
Dogecoin has remained mostly flat since June, with investor activity declining significantly. The cryptocurrency has fallen by 38% from its peak levels in May. However, market data indicates that Dogecoin is preparing for a potential rebound after forming a double-bottom chart pattern, which is widely considered a bullish indicator.
At the time of reporting, Dogecoin trades at $0.1595, as per the data from CoinMarketCap, and holds a market capitalization of $24 billion. Trading volume reached $815 million, marking a 13% increase from the previous day. The neckline stood at $0.2596, with the support level of the pattern being at $0.1445. The technical analysis has a price objective that shows a target of $0.3753, indicating an upside of 132%.
The chart setup shows bullish momentum building
This bullish chart setup relies on the pattern’s height, which stands at 44% between support and neckline. By applying the same percentage above the neckline, the projected target becomes $0.3753. The analysis remains valid unless Dogecoin drops below the $0.1445 support, which could shift sentiment and potentially send the price toward the psychological level of $0.10.
The ongoing dispute between Elon Musk and Donald Trump has not influenced Dogecoin’s performance. The latest conflict began after Musk criticized the discontinuation of EV tax credits, a move that affects Tesla’s business. Trump responded by threatening to cut federal support for Musk’s companies, including SpaceX.
Dogecoin separates from political narratives and media noise
Despite Musk’s past influence on Dogecoin and his involvement in U.S. politics, the coin has remained unaffected by recent headlines. Dogecoin's price did not react when Musk was appointed to the Department of Government Efficiency earlier this year. Analysts suggest that the token has now detached from personalities and is following technical signals more closely.
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