Dogecoin shows signs of recovery, forming a bullish double-bottom pattern that may lead to a price increase to $0.3753. Meanwhile, the rising trading volume indicates renewed investor interest.
Dogecoin Trading Volume Dynamics
In the past day, Dogecoin's trading volume surged by 13%, indicating renewed interest in the cryptocurrency amidst technical developments. Currently, Dogecoin is trading at $0.1595, with a market capitalization of $24 billion. The trading volume reached $815 million.
Bullish Double-Bottom Pattern
Technical analysis indicates that the double-bottom pattern sets a clear recovery target at $0.3753, representing a potential 132% upside. This model is based on the height of the pattern, which is 44% between the support level and the neckline, and the projected target is defined by applying the same percentage above the neckline.
Separation from Personal Conflicts
The recent conflict between Elon Musk and Donald Trump has not influenced Dogecoin's price performance. Despite tensions, analysts note that Dogecoin is now reacting less to personality friction and is adhering more closely to technical signals.
Thus, Dogecoin displays interesting technical nuances that may result in significant price recovery. Despite political dynamics, the asset continues to follow technical trends.
