Dogecoin (DOGE), the internet’s favourite memecoin, is showing signs of life again. Trading around $0.17, DOGE is forming a classic bullish double-bottom pattern, hinting at a potential price rebound toward the psychological resistance at $0.25. The pattern, with a support base near $0.15, has been developing steadily over the past several weeks and it may soon play out in favour of bulls.

Despite a choppy trading range between $0.13 and $0.25 since February, Dogecoin has remained among the top-traded cryptocurrencies, currently ranked 7th by 24-hour volume. As the broader crypto market seeks direction, DOGE appears poised to break out of its multi-month consolidation.

Technical Indicators Point to Trend Reversal

From a technical perspective, DOGE’s price has been confined within a descending channel for the past two months. However, signs of a reversal are emerging. Notably, DOGE has recently broken above the 50-day trendline, a key resistance level and has since retested it successfully, suggesting growing bullish momentum.

Crypto analyst Trader Tardigrade highlighted this breakout on X (formerly Twitter), noting the formation of new higher lows and higher highs on the lower time frame. This shift could signal an end to DOGE’s prior downtrend and the beginning of a new upward trajectory.

Moreover, on-chain data supports this bullish case. UTXO Realized Price Distribution (URPD) data shows a significant cluster of holders at the $0.177 level, representing 8.94% of the DOGE supply. A strong close above this zone could unlock the next resistance levels at $0.206 and potentially $0.36, where 7.54% and 3.83% of the supply are respectively concentrated.

Memecoins Continue to Outperform Altcoins

Even amid market uncertainty, memecoins remain one of the strongest-performing sectors. According to DYOR’s 90-day sectoral breakdown, memecoins delivered a stellar 56.67% return, outpacing other altcoin sectors. This reinforces the broader bullish sentiment surrounding DOGE, even as short-term pressure continues to weigh on price action.

Interestingly, Glassnode’s recent onchain data shows that DOGE holders are currently experiencing their highest loss levels in months. While this may indicate distress selling or profit-taking, it also reflects a typical consolidation phase before a new leg up, often seen in the volatile memecoin space.

Historically, Dogecoin and similar tokens have shown the potential for rapid gains, especially during retail-driven hype cycles. During late 2024, several memecoins witnessed rallies exceeding 300-500% in a matter of weeks. If history is any guide, DOGE’s next surge could come sooner than many expect.

$0.25 in Sight, But Bitcoin’s Move Holds the Key

While the double-bottom breakout could carry DOGE to $0.25 in the short term, a full-scale rally may depend on broader market conditions, particularly Bitcoin’s trajectory. As DOGE typically moves in tandem with BTC-led altcoin rallies, the next bullish phase for Bitcoin could act as a catalyst for DOGE to breach $0.25 and aim even higher.

Should DOGE sustain momentum above $0.177 and reclaim $0.206 with strong volume, the chances of a breakout toward $0.25 will rise considerably. If the memecoin sector remains hot, Dogecoin may even revisit its 2021 highs later in 2025, driven by a fresh wave of retail enthusiasm.

A Key Moment for DOGE

Dogecoin stands at a critical juncture. Technically, the double-bottom pattern and breakout from the descending trendline signal a bullish reversal. On-chain data reinforces this narrative, suggesting a potential climb to $0.25 in the near term and possibly beyond in the longer run.

Though short-term volatility remains, DOGE’s performance, both technically and within the memecoin sector signals that it could soon enter a new growth phase. For now, all eyes are on the $0.177 level. A decisive move above it could ignite the next chapter in Dogecoin’s unpredictable but always fascinating journey.