Dogecoin Forms Double Bottom Pattern as Whales Ramp Up Accumulation – Is a Rally Imminent?

Dogecoin's price action just flashed a classic bullish reversal signal—while crypto whales keep stacking DOGE at bargain levels. Here's what it means for the meme coin's next move.

Double Trouble for Bears

The DOGE chart painted a textbook double bottom this week, with two nearly identical lows forming a springboard for potential upside. Meanwhile, blockchain trackers spotted eight-figure purchases from anonymous wallets—the kind that typically precede major price movements.

Whales vs. Retail

While retail traders panic-sell during these formations, institutional players treat them like clearance sales. One cynical observer noted: 'When the suits start buying dog memes seriously, either the market's genius or completely broken.'

Make or Break Levels

All eyes now on whether DOGE can convert this technical setup into a sustained breakout. Fail here, and it's back to the doghouse. Break through, and suddenly those Elon tweets might start moving markets again.

More data shows that Dogecoin’s funding rate has remained in the positive zone since July last year. A positive funding rate is a sign that investors anticipate the future price will be higher than it is today.

Dogecoin’s price has held steady after Elon Musk launched The American Party, which he hopes will become the third major political party in the U.S. He formed the party after falling out with Donald Trump, who signed a law that Musk believes will lead to more government spending. The so-called Big Beautiful Billalso ends a popular electric vehicle

Musk is often seen as the “Dogefather” for popularizing Dogecoin in 2019 and 2020, helping it become a multi-billion-dollar asset.

Dogecoin price technical analysis

The daily chart shows that Doge price bottomed at $0.1467, a notable level that was the lowest point in March, April, and June this year. It has formed a double-bottom pattern whose neckline was at $0.2596, the highest point in May. A double bottom is one of the most popular bullish reversal patterns.

The Relative Strength Index has bounced back and is nearing the neutral point at 50. Similarly, the two lines of the MACD have made a bullish crossover and are pointing upward.

Therefore, the coin will likely maintain its bullish outlook as long as it remains above the double bottom at $0.1467. A rebound could see it rise and retest the resistance level at $0.2595. A drop below the support at $0.1467 WOULD invalidate the bullish forecast.