Dogecoin has shown signs of recovery, forming a bullish double bottom pattern that led to a price increase of over 2%, surpassing 16 cents. This rebound occurred alongside a rise in Bitcoin, which transitioned from $105,200 to $107,000. For Dogecoin to shift away from its bearish trend, a move above 17 cents is necessary, as current intraday momentum still suggests a bearish outlook. The double bottom pattern emerged around the 15.7-15.8 cents zone, with significant trading volume, indicating strong buyer interest. Observations in the last hour show Dogecoin exhibited a bullish trend, climbing from $0.1605 to $0.1611, confirming ongoing buyer support. Despite this temporary upswing, the overall market sentiment remains cautious with a consistent downtrend noted since mid-May, underscoring the necessity for a clear price movement above the previous lower high to redefine the market direction.

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