Dogecoin Price Analysis: A Potential Double Bottom at $0.12
Dogecoin (DOGE) has been gaining attention from technical traders as its price stabilizes around the $0.12 support zone, a level that has historically acted as a strong floor. After a prolonged period of weakness, the cryptocurrency is now showing early signs of a double bottom formation, a classic bullish reversal pattern that often appears near the end of downtrends. According to a report by Crypto News, this development could mark the start of an upward move for DOGE.
The potential double bottom is forming in a technically significant location, with the first reaction into the $0.12 area resulting in initial demand, while the second retest remained at the same level, suggesting that sellers were unable to push the price to new lows. This inability to break support often reflects seller exhaustion, a prerequisite for trend reversals. As seen in the 
DOGEUSDT (4H) chart, the double bottom pattern is emerging, but it is not yet confirmed.
Key Technical Points and Market Structure
From a market structure perspective, Dogecoin is in a clear downtrend characterized by lower highs and lower lows. Double bottom formations are particularly significant in this context as they often mark the transition from bearish control to a more balanced or bullish environment. The $0.12 level remains a critical long-term support level, and a double bottom pattern is emerging, but it is not yet confirmed. The Point of Control (POC) represents the first major test for bulls, and a successful recapture of the POC could significantly increase the likelihood of a further move towards the $0.15 resistance level.
Volume behavior will play a crucial role in determining whether this potential reversal can mature. Reversal patterns that form without an increase in bullish volume often fail, leading to further consolidation or another downtrend. Conversely, an expansion in volume in reclaim attempts would indicate that real demand is entering the market. Another important factor is the time beyond support, as the longer Dogecoin can sustain price action above $0.12 without aggressive selling pressure, the stronger the validity of the double bottom will become.
What to Expect from Upcoming Price Development
As long as Dogecoin stays above the $0.12 support, the potential for a bullish reversal remains. A confirmed double bottom could result in a rotation towards the control point and eventually $0.15. However, without volume confirmation and a clear structural recovery, the pattern continues to evolve and is not complete. For more information and updates on Dogecoin’s price analysis, visit Crypto News.
