Dogecoin Surges 2.74%—Is $0.24 Next? Double Bottom Pattern Hints at Bullish Breakout

Dogecoin bulls are barking again as the meme coin claws back with a 2.74% rally. The $0.24 resistance level now sits in its crosshairs—will the double bottom chart pattern confirm the comeback?

Technical traders are eyeing the formation like Wall Street analysts eye a fourth espresso—desperate for a sign. Meanwhile, retail investors pile in, because nothing screams 'sound financial decision' like a Shiba Inu-themed asset.

If the pattern holds, DOGE could sniff out new gains. If not? Well, at least it’s not another NFT rug pull.

• Dogecoin gained 2.74% in 24 hours, reaching $0.2062 with trading volume up 107.09% to $2.53 billion.
• The weekly chart shows DOGE nearing resistance at $0.21329, with breakout targets at $0.34177 and $0.48642.
• A double bottom pattern suggests a move toward $0.33 if price breaks above the neckline resistance at $0.24.

Dogecoin, an open-source and peer-to-peer cryptocurrency, has recorded an uptick in the last 24 hours. During the Asian trading session, Doge opened its market with a price of $0.201. However, the price has seen a continuous uptick to the current levels, prompting the market analyst to weigh in on whether the current trend will hold.

Dogecoin Current Market Action Revealed

Tracking the ongoing price movement at the time of press, CoinMarketCap data indicates that Dogecoin is trading at a price value of $0.2062 after gaining 2.74% in the past 24 hours. Following this, the market cap rose to $30.96 billion, increasing 2.76% during the same period. On the other hand, the trading volume surged 107.09% to $2.53 billion, indicating stronger market activity.

CoinMarketCap

Market data indicates that dogecoin started its 24-hour trend at $0.2008 and dipped below this level overnight before rebounding. Price momentum shifted, pushing DOGE above $0.210 at its intraday peak; after a short retracement, it stabilized between $0.205 and $0.207.

Dogecoin Approaches Key Breakout Levels With Signs of Further Upside 

According to an observation by Bitcoinsensus, Dogecoin gained 3.77% on the weekly chart, closing at $0.20603. The price is approaching a key resistance level NEAR $0.21329, this area remains critical, as a weekly candle close above could confirm a breakout. A successful move beyond this range may lead to the next resistance zones around $0.34177 and $0.48642. 

Bitcoinsensus (X)

Recent price action broke above the descending trendline, signaling a structural change in market direction. Dogecoin has also moved past earlier consolidation levels between $0.19716 and $0.20166. The current price now trades near the mid-range of historical activity between $0.182 and $0.482. If the price fails to close above $0.21329, a potential retracement may follow toward the $0.18697 to $0.18296 support region.

To further validate the upcoming market action, another analysis observed a double bottom pattern forming on the chart with support holding around $0.14. Dogecoin is now approaching neckline resistance at $0.24.  A breakout from this structure may trigger a measured MOVE toward $0.33. 

Hailey LUNC (X)

This potential surge represents a 78.84% upside from the neckline zone. The price has already gained momentum following the recent consolidation. With sustained pressure, $0.33 could serve as the next critical resistance. The current setup aligns with broader technical patterns, indicating the weekly close may determine the next leg in Dogecoin’s trend formation.

: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.