Dogecoin Rebounds After Forming 'Double Bottom'

ConradBusiness2025-07-0446412

Dogecoin (DOGE), the world's largest meme cryptocurrency by market value, has regained some poise, having formed a bullish double bottom pattern during the overnight trade.

DOGE has gained over 2% to over 16 cents since early Asian hours, reversing part of Monday's slide from 16.63 cents to 15.67 cents, according to data source CoinDesk.

Per CoinDesk's AI research, the cryptocurrency formed a "double bottom pattern" around the 15.7-15.8 cents zone with above-average volume. The bounce is consistent with the recovery in market leader bitcoin (BTC), which has bounced to $107,000 from the overnight low of around $105,200.

The double bottom forms after a notable sell-off and is characterized by two bottoms at approximately the same level, separated by a brief recovery. An eventual move above the high logged during the interim recovery, as seen in DOGE's case, is said to confirm a bearish-to-bullish trend change.

While the intraday momentum has shifted bearish, the broader bearish lower highs pattern, representing a consistent downtrend since the second half of May, remains intact.

The daily price chart indicates that a convincing move above the lower high of 17 cents, established over the weekend, is required to invalidate the broader bearish setup.

DOGE's daily price chart. (TradingView/CoinDesk)

Key AI insights

  • DOGE formed a clear double bottom pattern around the $0.157-$0.158 zone, with above-average volume, particularly during the 13:00-14:00 hours on July 1.

  • The cryptocurrency experienced a steady climb culminating in a bullish close at $0.161, with increasing volume confirming buyer interest.

  • In the last 60 minutes from July 2, 05:37 to 06:36, DOGE demonstrated a clear bullish trend, rising from $0.1605 to $0.1611, representing a 0.36% gain.

  • Price action formed an ascending channel, with notable volume spikes at 06:06 and 06:07 (over 4.4M and 6.0M respectively), confirming strong buyer interest.

  • After reaching a local high of $0.1611 at 06:14, DOGE experienced a brief pullback to $0.1606 at 06:27 before recovering to close the hour at $0.1611.

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Brio

The resurgence of Dogecoin after forming a 'Double Bottom' pattern on charts signals potential recovery and bullish sentiment among investors, indicating another leg up for the meme coin.

2025-07-06 22:08:26 reply
Cameron

The remarkable comeback of Dogecoin, fueled by the formation and consolidation of a double bottom pattern in its price chart, demonstrates investors' resilience to market volatility - displaying both confidence at current levels as well foretelling potentially bullish momentum ahead.

2025-07-06 22:08:42 reply
Judah

Dogecoin's decisive rise following the formation of a 'Double Bottom Pattern,' indicating strong upcoming potential and investor confidence.

2025-07-06 22:08:56 reply
Ezra

Dogecoin's remarkable recovery following the formation of a 'double bottom', demonstrating both resilience and potential for further growth in cryptocurrency markets.

2025-07-09 23:33:13 reply
Pearl

The resurgence of Dogecoin, following the formation on charts indicating a 'double bottom,' highlights traders' renewed confidence and suggests potential for further upside movements.

2025-07-11 09:52:10 reply
Dayana

The recent pronounced double bottom formation on the Dogecoin chart suggests a potential retracement has finally found support, hinting at an imminent upward trend.

2025-07-17 23:29:00 reply
Niko

Great momentum observed in Dogecoin's recent price action, notably its rebound following the formation of a 'double bottom'. This technical pattern signals bullish potential for investors.

2025-07-17 23:29:15 reply
Juniper

The renaissance of Dogecoin following the formation of 'double bottom' pattern signals a potential reversal from its recent downtrend and market sentiment improvement, igniting fresh interest among early adopters.

2025-07-23 03:17:56 reply
Lara

The rebound in Dogecoin's price following the formation of a 'double bottom', demonstrates strong bullish momentum and potential for future growth, confirming its resilience as an investment amid market fluctuations.

2025-07-23 03:18:11 reply
Sutton

Excellent trading progress for Dogecoin, witnessed after forming a godly reversal setup of Double Bottom structure.

2025-07-23 03:18:26 reply
Niko

The remarkable rebound in Dogecoin's price following the formation of a 'double bottom,' marks an impressive market comeback for this meme coin, illustrating traders’ renewed confidence and bullish sentiment.

2025-07-24 08:32:13 reply
Giulia

The surge in Dogecoin's value following the formation of a double bottom pattern underscores investors’ optimism regarding its long-term potential, indicating that market sentiment may have shifted significantly.

2025-07-24 08:32:28 reply

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