Dogecoin Flashes Rare Bullish Signal—Is a 250% Surge Imminent?

Meme coin’s double bottom pattern sparks trader frenzy as DOGE eyes $0.25 breakout

The chart that launched a thousand sh*tcoins: Dogecoin’s technical setup suggests the ultimate ’buy the dip’ moment may be here—just don’t tell the SEC we’re calling it that.

After months of sideways action, DOGE’s 2025 resurgence could make diamond-handed hodlers richer while leaving short-sellers barking up the wrong tree. Whether this is the real deal or another false dawn for crypto’s favorite joke-turned-juggernaut remains to be seen—but at least the volatility’s more exciting than your bank’s 0.01% APY.

Dogecoin Price Analysis This consolidation pattern hints at a potential double bottom reversal, which could challenge the upper resistance level. The $0.2302 resistance acts as the neckline of the double bottom formation. Supporting the potential for upside movement, the MACD and signal lines are on the verge of a bullish crossover. Additionally, the MACD line reflects bullish divergence within the double bottom pattern. However, the Supertrend indicator still signals a bearish trend in motion. The meme coin must break above the $0.2349 level to confirm a bullish reversal. According to Fibonacci retracement levels, a short-term resistance lies near $0.2401, aligning with the 23.60% level. Therefore, the price action suggests multiple short-term hurdles before DOGE can test the $0.25 supply zone. Optimistically, a successful breakout from the double bottom pattern could challenge the $0.25 zone. If dogecoin surpasses the consolidation range, Fibonacci levels indicate a potential upside target of $0.2680. On the downside, a key support level lies just below the $0.2177 zone, at the previous low of $0.2037. Derivatives Data Signal Mixed Sentiments As Dogecoin hints at a bullish reversal, the derivatives market shows a surge in mixed sentiment. According to Coinglass data, Dogecoin’s open interest has increased by 2.89%, reaching $2.71 billion. This rise in open interest reflects growing trader activity, likely in anticipation of a sharp price move.

DOGE derivatives The bullish intent is underscored by a rising, over-weighted funding rate, now at 0.0070%. However, liquidations in the past 24 hours indicate bearish dominance, with long liquidations totaling $4.51 million, compared to just $1.41 million in short liquidations.

DOGE Long/Short Ratio Chart Despite the increase in long liquidations, the Dogecoin long-to-short ratio chart shows a rise in bullish positions. Long positions now account for 48.59%, up from 47.78% over the past 36 hours. This has pushed the long-to-short ratio from 0.915 to 0.945, reflecting an effort to balance sentiment in the market.