NewsBTC
Feb 28, 2025
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Dogecoin Price Shows Potential Cup and Handle Formation for Recovery

1 min

The price of Dogecoin (DOGE) has declined over 57% from its December 8 high of $0.4843, currently trading at $0.207. Technical analysis indicates a potential bullish scenario based on a “Cup & Handle” pattern.

Key Points

  • A final leg down may occur before reaching the support level at $0.16896, forming the base of the Cup & Handle pattern.
  • The pivotal resistance level for DOGE is around $0.29124. A breakout above this level could confirm the bullish pattern and lead to a strong upward trend.
  • If the pattern plays out, upside targets range between $0.50 and $0.60, based on historical trading activity.
  • Traders are focusing on DOGE as attention shifts back to established assets following recent memecoin mania.
  • A sustained breakout could enhance interest from both retail and institutional investors.

Current price: $0.207

Dogecoin price