Dogecoin has confirmed a double bottom breakout above the critical $0.25 resistance level, indicating strengthening bullish momentum. This technical pattern emerged alongside a notable 45% increase in trading volume, reflecting growing buyer confidence and market participation.
Technical analysis suggests the breakout points to a measured price target near $0.476, supported by historical precedent. Dogecoin exhibited a similar double bottom formation in 2020 that preceded a significant upward price movement, adding validity to the current setup.
Supporting the breakout is a substantial surge in trading activity, with 24-hour volume climbing 44.97% to $2.1 billion. This elevated activity represents a volume-to-market-cap ratio of 6.74%, signaling enhanced liquidity that bolsters the technical outlook.
The coin maintains key support near $0.1988 during short-term fluctuations, establishing a foundation for potential continuation toward the $0.476 target. Current price action demonstrates persistent upward pressure consistent with the double bottom breakout pattern.