Dogecoin (DOGE) has recently formed a double bottom pattern and has broken through a trendline, suggesting a potential price rebound to $0.25. Currently trading around $0.17 after a prolonged period between $0.13 and $0.25, DOGE remains the seventh most traded cryptocurrency. Analysts note that the daily chart shows a support level established at $0.15 and potential for further gains, especially if it closes above $0.177, which could lead to resistance at $0.206 and $0.36. Despite recent mixed on-chain metrics indicating high loss levels among holders, memecoins have outperformed other sectors, reflecting a return of 56.67% over the past 90 days. This suggests a possible upside for DOGE, with historical trends indicating substantial growth during peak hype cycles. The analysis suggests that while immediate gains to $0.25 are plausible, the longer-term outlook remains strong amidst retail enthusiasm in the memecoin sector.

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