Dogecoin (DOGE) Price Skyrockets 10% as Bullish Momentum Hints at a Rally After Dip

Dogecoin price has shown a strong recovery in the last 24 hours, surging 10% after recent market losses. This rebound follows a challenging week for the cryptocurrency

Dogecoin price has shown a strong recovery in the last 24 hours, surging 10% after recent market losses. This rebound follows a challenging week for the cryptocurrency, marking a significant turnaround amid renewed bullish sentiment. As the broader crypto market experiences a resurgence, Dogecoin appears poised for further gains, driven by a favorable technical pattern signaling potential price growth.

A crypto trader has identified a bullish breakout for Dogecoin price on the 4-hour chart, citing a double bottom formation. This technical analysis showcases a significant price move that has caught the attention of market participants.

The double bottom, a popular reversal pattern, suggests a potential upward trend in Dogecoin’s price. The chart reveals two distinct lows, followed by a breakout above resistance. This breakout indicates bullish momentum that could lead to further price gains in the meme coin.

Technical indicators point to strengthening market conditions, with buyers showing renewed interest in DOGE. The breakout zone highlighted by the trader has become a focal point for potential upward movement.

The DOGE price hovered at $0.34275, making a 10% surge in the past 24 hours. This follows a broader rebound in the cryptocurrency market after recent consolidations. BTC price has seen a surge above $96K and ETH above $3,300, fueling the optimism.

Technical analysis reveals that Dogecoin is currently trading above the $0.300 support level. The next major resistance lies at $0.350, with further targets around $0.500. If bullish momentum sustains, the Dogecoin price prediction could test these levels in the coming sessions.