Double Bottom Chart Pattern Emerging on Dogecoin—Could $0.15 Be Next?

Dogecoin (DOGE) is catching traders’ attention as it trades near critical support, with a textbook double bottom chart pattern potentially forming around the $0.12 zone. Currently trading at $0.14, the memecoin shows signs that seller exhaustion may be setting in after an extended downswing.

The Setup: Why $0.12 Matters

The $0.12 level isn’t arbitrary—it’s where Dogecoin has established significant demand twice. In technical terms, this is the foundation of a double bottom chart pattern: price dips to support, bounces, pulls back to test that same level again, and holds. When sellers can’t crack it the second time, it often signals a shift in control.

Right now, DOGE is trading above this zone at $0.14, despite a 2.85% decline over 24 hours. The question isn’t whether support will hold—it’s how bulls respond to the next test.

Reading the Chart: Three Price Zones to Watch

Support Floor ($0.12): This is where the double bottom chart pattern is taking shape. Lose this, and the reversal narrative collapses.

Point of Control (POC): The area where the most volume has traded. Breaking above this is step one for bulls serious about a move higher.

Resistance Target ($0.15): The upper boundary of the range. If the double bottom chart pattern confirms and POC gives way, this is where momentum likely heads next.

Market Structure Tells the Story

Dogecoin has been in a clear downtrend—lower highs, lower lows. A double bottom chart pattern represents the structural opposite: two touches of support with failure to break lower. It’s the chart’s way of saying “demand finally showed up.”

The catch? The pattern isn’t confirmed yet. Price needs to reclaim the Point of Control with conviction, ideally on increasing volume. A weak bounce above resistance suggests the pattern fizzles; a sharp reclaim with volume behind it suggests genuine buying interest.

What Volume Should Tell Us

Here’s where many traders miss the mark: A textbook double bottom chart pattern requires volume confirmation. Buyers defending $0.12 while volume climbs makes the narrative stick. Buyers defending $0.12 on quiet volume? That’s just noise until proven otherwise.

Time is also critical. The longer Dogecoin can hold above $0.12 without collapsing, the stronger the pattern becomes. A quick bounce followed by a collapse back below support? Classic failed double bottom chart pattern.

The Path Forward

As long as DOGE stays above $0.12, the bullish case remains alive. A confirmed double bottom chart pattern targeting $0.15 is plausible, but it needs volume and structure to validate it. Without both, traders should treat any rally as a test rather than confirmation of a trend shift.

The current price of $0.14 puts Dogecoin in the middle of the battle zone. The next few trading sessions will determine whether this double bottom chart pattern becomes a reversal or just another false hope.