Key takeaways:DOGE formed a double bottom and broke through the lower time frame trendline, signaling a possible move to $0.25.Memecoins have been the best-performing narrative sector over the past 90 days.
Dogecoin (DOGE) is trading near $0.17, staging a modest rebound after fluctuating between $0.13 and $0.25 since February.
Despite its sideways movement, DOGE remains the 7th most traded crypto by 24-hour trading volume.
Investors continue to monitor whether the memecoin can reclaim the key psychological level of $0.25.DOGE 1-day chart.
Source: Cointelegraph/TradingViewThe daily chart reveals DOGE tracing a double bottom pattern, a classic reversal signal, with a support base at $0.15 established over recent weeks.
This long-term setup hints at a potential climb to $0.25, a target that could materialize sooner than expected.Over the past two months, DOGE has been confined within a descending channel, a pattern indicating signs of a potential uptrend breakout.
Crypto analyst Trader Tardigrade posted an analysis on X, highlighting a decisive move above the 50-day trendline, followed by a successful retest and an uptrend continuation.Dogecoin analysis by Trader Tardigrade.
Source: XThis shift in the lower time frame, marked by new higher lows and higher highs, signals a potential trend reversal from its prior downtrend.
Supporting this, onchain UTXO realized price distribution data indicates the largest holder cluster at $0.177, holding 8.94% of the supply.
A strong close above this level could clear the path to the next resistance at $0.206 (7.54%) and potentially $0.36 (3.83%), fueling optimism among analysts.DOGE UTXO Realized Price Distribution.
Source: GlassnodeRelated: XRP news update: Ripple bank license application, chart pattern fuel potential rally to $2.65Recent onchain metrics painted a mixed picture.
Glassnodes post on X revealed DOGE holders enduring their highest loss levels in months, a stark indicator of profit-taking or distress selling at current prices.
This suggests short-term pressure, yet the memecoin narrative remains relevant.According to DYORs data, memecoins have dominated the past 90 days with an impressive 56.67% return, outpacing broader crypto markets.90-day Relative Strength of Crypto Narrative.
Source: DYOR/Dune AnalyticsThis implies a latent upside potential for DOGE, even if $0.25 isnt immediate.
Historical patterns suggest memecoins can see 300%-500% gains during peak hype cycles, as seen in late 2024.Thus, DOGE stands at a crossroads, with technicals pointing to a near-term $0.25 push via its double bottom and trendline break.
At the same time, memecoin dynamics suggest a longer-term climb fueled by retail enthusiasm.
A decisive move above $0.177 could be the next technical confirmation.
A break above $0.25 could materialize by late 2025, especially if Bitcoins next leg up amplifies altcoin rallies.
The current loss phase may thus be a consolidation before a hype-fueled breakout.
Related: Bitcoin price aims for new highs but divergences set $110K as resistanceThis article does not contain investment advice or recommendations.
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.