Dogecoin’s Chart Signals Potential Price Recovery to $0.25

City, State – Dogecoin (DOGE) is showing signs of a potential price recovery, currently trading near $0.17. After fluctuating between $0.13 and $0.25 since February, DOGE has begun a modest rebound and remains the seventh most traded cryptocurrency by 24-hour trading volume.

Technical analysis indicates that DOGE has formed a double bottom pattern, a classical sign of reversal, with a robust support base established at $0.15. Analysts are closely watching to see if DOGE can reclaim the psychologically significant level of $0.25. A sustained upward movement could happen sooner than anticipated based on recent trends.

Over the last two months, DOGE has remained within a descending channel, which often signals a potential upward breakout. Crypto analyst Trader Tardigrade has spotlighted a decisive move above the 50-day trendline, supporting the idea of an upcoming price increase.

Onchain data also reveal interesting trends, with the largest holder cluster currently at $0.177, accounting for around 8.94% of the total supply. A strong close above this level may pave the way for the next resistance point at $0.206, followed by the potential for further gains up to $0.36.

Despite these bullish patterns, the scenario remains mixed. Recent metrics from Glassnode show that DOGE holders are facing significant losses, marking the highest levels of loss in several months. This trend raises concerns about profit-taking and distress selling among investors, suggesting short-term pressure on the memecoin.

Nonetheless, the overall narrative for DOGE is still relevant, especially considering the performance of memecoins in the past three months, which saw returns averaging 56.67%, surpassing the broader crypto market. Such trends indicate latent upside potential for DOGE.

As DOGE navigates through a challenging market, it holds a pivotal position characterized by both technical indicators pointing toward potential gains and market dynamics suggesting a more extended climb fueled by retail enthusiasm. An increase above $0.177 could confirm the bullish sentiment, with the prospect of reaching $0.25 by late 2025, particularly if Bitcoin experiences another upward movement.