Doge Price Prediction: Double Bottom Pattern Forms – Is Powell Riding to the Rescue?

DOGE flashes bullish reversal signal as classic chart pattern emerges

Technical Breakthrough

The meme coin's chart paints a compelling picture—a potential double bottom formation taking shape after weeks of sideways action. That pattern typically signals exhaustion of selling pressure and often precedes significant upward moves.

Powell Put Effect

Federal Reserve commentary continues to move crypto markets like marionette strings. Recent dovish tones from Chairman Powell sent risk assets soaring, providing exactly the momentum Doge needed to confirm its technical breakout. Because nothing says 'decentralized future' like hanging on every word from a central banker.

Market Mechanics at Play

Traders watch key resistance levels as buying volume accelerates. The pattern suggests institutional money might be dipping back into crypto's favorite joke-turned-juggernaut. When the pattern completes, historical data suggests substantial upside targets—though in crypto, past performance guarantees exactly nothing.

Whether this marks the start of Doge's next leg up or just another fakeout remains unclear. But one thing's certain: in today's market, even meme coins take their cues from the Eccles Building.

Traders on Polymarket are also feeling pretty optimistic about the dogecoin ETF approval, with chances sitting at 68%. If the approval goes through, it would be a major step forward for both Dogecoin and memecoins as a whole.

Doge Price Prediction: Double Bottom For Dogecoin?

The markets got a big boost after Powell hinted that a rate cut might be on the table for September. His Jackson Hole speech quickly reversed the recent crypto and stock market dip, sparking fresh Optimism that the Fed might step in to support growth.

Dogecoin (DOGE) price was no exception and saw an immediate 7% bounce in response, possibly forming a double bottom pattern, which is often a prediction of big potential gains.

The RSI is backing up the bullish case, sitting at a neutral 51 level, this leaves room for more upside before looking at pullbacks. The MACD line also looks solid, crossing above the blue line.

If Doge can break through the previous resistance (the red trendline), it might lead the charge in a new rally for memecoins. The support level stays the same (0.20) and its important level for the price to stay above.

Maxi Doge might be the biggest winner from Dogecoin’s rise. Their new Dogecoin-inspired memecoin just dropped its presale and it’s already racked up over $1.4M.

Maxi Doge appears to be “gym bro” version of Doge who’s hooked on high-leverage trading. It’s 100% meme vibes, no pretending it’s got some DEEP use case or anything serious.

Even though it plays it cool on utility, if you look close, Maxi Doge’s got some fun community stuff like staking and user contests, which could keep it relevant for a long time.

They’ve got 40% of the total tokens in the public presale, with no private sales or insider deals, so no need to stress about whales dumping once it hits the big exchanges.

They’re also offering a staking program for MAXI holders, with presale buyers able to snag up to% annual yield. Basically, you can lock up your MAXI and start earning rewards before the presale even wraps up.

Early believers might cash in big and end up making the most of it.

Head to the Maxi Doge website to follow smart investors and join the presale. You can make your purchase using ETH, USDT, BNB, or even a credit card.

Click Here to Participate in the Presale