This Pattern Just Changed Dogecoin’s Chart

Dogecoin (DOGE) may have finally drawn a line under its recent selloff. The latest daily candle closed with a clear double-bottom formation, a structure technicians watch closely when downside momentum begins to exhaust.

Indeed, popular pseudonymous cryptocurrency trading specialist Trader Tardigrade highlighted this setup, noting that DOGE has now defended the same demand zone twice, rejecting lower prices and stabilizing above recent lows, per his analysis on December 29.

On higher timeframes, that kind of behavior often marks the transition from distribution to repair. This doesn’t confirm a full trend reversal on its own, but it does change the risk profile.

Why The Double Bottom Matters Here

Double bottoms are less about prediction and more about information. They signal that sellers attempted to push the price lower and failed as they met consistent buying interest at the same level. In DOGE’s case, that demand has now appeared twice on the daily chart, a timeframe that filters out intraday noise.

Equally important is where the pattern formed DOGE’s second low held above panic levels seen earlier in the move, suggesting selling pressure is weakening rather than accelerating. That’s a notable shift after weeks of persistent downside.

If the price can now reclaim the neckline resistance overhead, the structure opens the door for a broader relief move rather than another failed bounce.

For the time being, Dogecoin is trading at $0.1244, indicating an increase of 0.71% in the last 24 hours, having declined 5.76% across the previous seven days, and losing 16.72% on its monthly chart, according to the latest price data.

What This Says About Dogecoin Sentiment

Meme coins are often driven by reflexive momentum, but even momentum markets need structure to reset. The double bottom suggests DOGE is no longer being sold indiscriminately, as participants are beginning to defend value rather than exit at any price.

That doesn’t mean upside is guaranteed. False reversals are common in weak macro conditions. But from a technical perspective, DOGE has moved out of pure breakdown mode and into a zone where upside attempts are at least plausible.

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