Dogecoin (DOGE) Catches Traders' Attention Thanks to Bullish Chart Patterns, Even Though Price Remains Flat

After a 177% surge in the last month, crypto trader DonAlt highlighted Dogecoin's impressive chart, suggesting that the meme coin is poised for further gains.

Dogecoin (CRYPTO: DOGE) traders are keeping a close eye on the cryptocurrency as it forms bullish chart patterns despite showing minimal price movements.

Here's what happened: A 177% rally over the last month has prompted crypto trader DonAlt to highlight Dogecoin's strong chart, suggesting that the meme coin could be poised for further gains.

$DOGE

Actually kinda looks good

A dog kind of deserves at least 2 legs no? pic.twitter.com/Lia596NXFl

More Crypto Online noted that Dogecoin's support lies between $0.25 and $0.34 and that a 3.7% dip over the last week suggests the correction is almost complete.

However, the trader anticipates a potential continuation before a breakout above $0.445, which could propel prices to $0.60.

Trader Koala remained cautious yet optimistic, calling Dogecoin's chart the "best-looking" and suggesting any pullbacks should be viewed as opportunities to buy more DOGE.

He added that the only tailwind risk he sees is the elimination of the “Department of Government Efficiency.”

Crypto analyst Kevin suggested that the longer the consolidation, the bigger the next leg up, potentially marking the start of Dogecoin's largest bull run yet.

See More: Dogecoin Surged 6% After Elon Musk's 'Dogefather' Tweet: Is This The Start Of A 'Parabolic Run'?

important takeaways: A crypto chart analyst named Ali Martinez revealed that Dogecoin whales have bought over 550 million DOGE, valued at $214.5 million, in the past week.

IntoTheBlock data showed large transaction volume and daily active addresses increasing 41.1% and 34.9%, respectively, in a single day.

Coinglass data showed long liquidations at the lowest level ($7.4 million) since Nov. 9, while open interest remained high, crossing $3.07 billion.

Price Action: At the time of writing, Dogecoin is trading at $0.3846, up 1.7% over the past 24 hours.