Dogecoin Flashes Rare Double Doji as Bulls Eye Breakout Above $0.22

Dogecoin forms a rare Double Doji, signaling potential price breakout from current levels.

DOGE trading volume rises 15%, while RSI and MACD hint at growing bullish momentum.

Key support sits at $0.2073, with breakout targets extending to $0.65, $0.74, and $1.25.

Dogecoin’s daily chart has displayed a rare Double Doji candlestick pattern, pointing to increased uncertainty in current market sentiment. This pattern often comes before a breakout, and analysts are now watching closely as Dogecoin continues to hold key support levels. The coin is currently trading at $0.2271 as of 12:00 UTC, May 26, 2025.

Double Doji Pattern Observed on Daily Chart

According to an analysis prepared by Trader Tardigrade, Dogecoin has shown signs of strong demand even as broader markets trend lower. The appearance of the Double Doji pattern, which occurs when two consecutive days end with nearly identical open and close prices, reflects indecision in price direction

Source: Trader Tradigrade (X)

This often appears before a change in market trend. While the market as a whole has moved down from previous gains, Dogecoin's value has stayed strong near $0.22.

Data from CoinMarketCap confirms that DOGE is trading with a slight 1.2% gain in the last 24 hours, accompanied by a 15% increase in trading volume. This volume growth, paired with the pattern, suggests a buildup toward a possible breakout.

Key Resistance and Support Levels in Focus

According to an observation by a crypto analyst Javon Marks, DOGE is now testing a descending trend line resistance. A successful breakout above this level could lead to a move toward $0.18 and eventually retest higher levels near $0.22

Source: Javon Marks (X)

If this breakout occurs, analysts point to targets above $0.65, with further interest in $0.74 and $1.25 zones. However, failure to hold support at $0.2073 could lead to a sharp price decline

On-chain data from IntoTheBlock also shows a 20% increase in large DOGE transactions, indicating whale interest at current price levels. Technical indicators such as the RSI at 52 and a potential MACD crossover on the 4-hour chart suggest the possibility of renewed upward momentum.

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