DOGE may rally to $0.25 as analysts monitor price movement

Dogecoin (DOGE) shows signs of a potential move to $0.25 after forming a double bottom pattern. It remains the 7th most traded crypto with a price near $0.17, trading between $0.13 and $0.25 since February. Analysts are monitoring whether DOGE can reclaim the $0.25 level soon.

The daily chart reveals a double bottom pattern on DOGE, suggesting a climb to $0.25 may happen sooner than expected. DOGE has been in a descending channel for two months, indicating a potential uptrend breakout. Analysts highlight a move above the 50-day trendline as a positive sign for a continued uptrend.

Recent onchain metrics show DOGE holders enduring high loss levels, indicating profit-taking or distress selling. Despite short-term pressure, memecoins have been the best-performing sector in the past 90 days, with a 56.67% return. This suggests potential upside for DOGE, with historical patterns showing significant gains during hype cycles.

DOGE’s technical analysis points to a potential push towards $0.25, with a break above $0.177 as a key confirmation. A move above $0.25 could happen by late 2025, especially if Bitcoin’s rally boosts altcoins. The current loss phase may be a consolidation before a breakout fueled by hype.

Read more at Cointelegraph: DOGE Rally To $0.25 Possible As Memecoins Outperform