Dogecoin (DOGE) has confirmed a bullish double bottom breakout after surpassing the critical $0.23 resistance level, setting a technical price target of $0.418. The confirmation follows a retest of $0.23 support on weekly charts, solidifying this level as a foundation for upward momentum.
A Golden Cross formation – with the 50-day EMA crossing above the 200-day EMA – further validates the bullish trend. This technical signal coincides with significantly heightened trading volume, reinforcing confidence in DOGE’s upward trajectory. Currently trading at $0.2421, Dogecoin shows a 2.8% daily gain with $3.03 billion in 24-hour trading volume and a $36.39 billion market capitalization.
Maintaining position above the $0.23 support line remains essential for continuation toward the projected target. Analysts highlight that failure to hold this level could invalidate the breakout pattern and undermine the near-term bullish outlook.
The combined technical indicators point to strengthening institutional and retail interest in the meme cryptocurrency, though market participants are advised to monitor key support levels closely amid volatile conditions.