What to know:
- The DOGE price shows a weekly double-bottom pattern, signaling a bullish reversal if buyers defend key support.
- DOGE breakout above the $0.40 neckline could confirm the pattern and strengthen bullish targets toward the $5 level.
- Robinhood’s EU expansion gives eligible European users regulated access to DOGE, increasing visibility and participation.
Dogecoin (DOGE) shows a potential weekly double-bottom pattern indicating buyer support and a possible reversal for the DOGE price if its neckline breaks. Simultaneously, Robinhood’s expansion into the European Union provides regulated access to DOGE, potentially boosting liquidity, market visibility, and mainstream adoption despite ongoing short-term volatility.
At the time of writing, DOGE is trading at $0.09272 with a 24-hour trading volume of $1.6 million and a market capitalization of $15.8 billion. Following the 2.74% gain over the last 24 hours, the Dogecoin price structure and whale accumulation point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Dogecoin Price Eyes $0.092 After DOGE Breaks Above Ichimoku Cloud
Dogecoin Price Setup Hints at Major Reversal Ahead
According to the crypto analyst Trader Tardigrade, the DOGE price is showing a potentially bullish structure on its weekly chart as a double-bottom pattern continues to develop.
The formation suggests buyers may be attempting to establish a stronger base following previous weakness. While another short-term decline remains possible, the broader setup could still favor a reversal if DOGE successfully defends the developing second low.
Source: Trader Tardigrade’s X Post
The confirmation for the continuation of the current trend would be the breaking of the neckline of the formation at $0.40, which would indicate a resumption of buying and strengthen the positive expectations for the future move above the resistance level of $5.
In the meantime, the DOGE price can continue moving in the framework of the pattern formation until the level of support is broken.
Dogecoin Expands Reach Across the EU
The data from dogegod further highlighted Dogecoin has received another shot in terms of accessibility to the mainstream market following the move by Robinhood to include DOGE on their crypto exchange in Europe.
This latest move ensures that those who are qualified to use Robinhood’s crypto platform in the European Union now have another legal means to access Dogecoin.
This most recent addition helps Dogecoin continue its increasing footprint in existing financial institutions, possibly paving the way for greater adoption in the future.
Although having a new platform is no assurance of an imminent rise in price, increased accessibility can result in better liquidity and more participation from investors. This is certainly good for DOGE.
Following the bullish price predictions and network expansion, the DOGE price is moving in an upward direction. This move is also backed by the general trend in the crypto market as Bitcoin has started to move upward.
The traders will keep track of whether the DOGE price successfully defends its support level to confirm the formation of a double bottom pattern or fails due to selling pressure. It is important that the neckline be broken out in order to affirm the bearish to bullish trend change.
Also Read: DOGE Price Could Double to $0.177 After Massive $0.081 Support Test
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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