- DOGE shows bullish cup-and-handle pattern with potential breakout above $0.12.
- Key resistances lie at $0.15 and $0.20 for a possible 100% gain.
- Support at $0.10 is critical; volume and momentum must strengthen for sustained rally.
Dogecoin — DOGE, has been quietly hovering just above $0.10, leaving traders watching closely for signs of a breakout. Over the past 24 hours, DOGE gained around 3 percent, a modest move but enough to attract attention. Technical setups, along with supportive market conditions, suggest potential for a bigger run. Analysts are eyeing classic bullish patterns on the chart, while broader crypto trends could provide the momentum DOGE needs to push toward higher price targets.
Technical Patterns Suggest Bullish Setup
A cup-and-handle pattern is forming on DOGE’s daily chart, catching traders’ interest. This pattern typically begins with a rounded bottom, followed by a slight pullback, before price breaks higher. Right now, the handle is forming, suggesting buyers may soon take control. A successful breakout above $0.12 could mark the first step toward higher targets.
From $0.12, DOGE faces resistance around $0.15, a level that has capped rallies in the past. Breaking that zone could open a path toward $0.20, which would represent more than a 100 percent gain from current levels. While the chart looks promising, analysts warn that trading volume has not surged yet. Without strong volume backing, any upward move may be short-lived.
Momentum indicators are showing neutral signals. The Relative Strength Index sits near 52, meaning DOGE is neither overbought nor oversold. A slight upward tick indicates renewed buying interest. The Chaikin Money Flow stands around 0.04, signaling light accumulation. Though capital inflows remain modest, buyers are returning after a slow period.
Market Conditions Could Support a Rally
DOGE has also been testing a descending trendline for six consecutive candles on the daily chart. Price has held above this line each time, maintaining the bullish structure. Traders see this as a positive sign, suggesting that the token may be consolidating before a potential surge.Beyond technical patterns, broader market trends are favorable for DOGE. The total cryptocurrency market cap rose nearly 2 percent to $2.35 trillion in the past day.
Spot ETF inflows added roughly $9.05 million, indicating growing institutional interest. Meme coins like SHIB, PEPE, BONK, and Pengu also saw gains, lifting the total meme coin market cap to $35.3 billion. On-chain data shows whale accumulation picking up and active addresses growing. These early signals suggest sentiment may be shifting. Traders should watch the $0.10 support level closely.
A close below that point could push DOGE toward $0.09, the next significant support. Holding above $0.10 is crucial for maintaining bullish potential. While DOGE’s chart indicates potential for a double from current levels, several factors must align. Volume needs to pick up, momentum must strengthen, and broader market support is required.
