Dogecoin Price Eyes Parabolic Rally as Double Bottom Pattern Emerges

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The Dogecoin price is once again at the center of crypto market attention. After a brief cooldown, bulls have defended key levels and analysts are spotting bullish patterns on multiple timeframes. With institutional interest growing and chart setups aligning, DOGE crypto may be preparing for a notable upside breakout.

Dogecoin Price Today: Trendline Break Sparks Bullish Setup

The Dogecoin price today is hovering around $0.2379 with a 24-hour trading volume of $2.29 billion and a market capitalization of $35.71 billion. 

After dipping from $0.28 to $0.22 on July 21 due to profit-booking, the DOGE price saw a much needed rebound on chart.

According to technical analysts, this bounce resulted in a breakout from a descending trendline on the hourly chart. 

Furthermore, the same analyst highlighted that this bounce on hourly chart is reliable because the 0.618 Fibonacci level on the 4-hour chart, aligns with the horizontal support. 

This alignment of technical indicators, across both 1H and 4H charts, clearly strengthens the bullish views that DOGE crypto might be preparing for another leg up in the near future.

Dogecoin Price Forecast: Double Bottom Pattern Hints at Larger Rally

Looking at the broader Dogecoin price forecast, another bullish formation is catching attention. On the daily chart, DOGE is testing the neckline of a tilted double bottom pattern, a classic bullish reversal setup. 

If this neckline breaks convincingly, it could open a path toward the $0.52 level. This would mark a significant upside from current levels and further validate the positive sentiment around Dogecoin crypto.

Adding weight to this outlook, the DOGE price has also been observed respecting an ascending trendline resistance since Q2. As a result, traders are eyeing this trendline as a high-probability breakout zone, assuming bullish volume continues to build.

Institutional Buzz Grows as DOGE ETF Interest Surges

Beyond technical charts, the growing optimism around Dogecoin price is also being fueled by institutional developments. 

Major asset managers including Grayscale, Bitwise, and 21Shares, have reportedly filed for Dogecoin ETFs. 

Notably, Bloomberg analysts assign a 90% chance of approval for such applications, underscoring DOGE’s credibility within the memecoin space.

This heightened interest from large-scale players brings DOGE closer to mainstream financial markets.

 If a Dogecoin ETF is approved, it could introduce a new wave of capital into the asset, significantly impacting DOGE crypto’s long-term price dynamics.

Dogecoin Price Outlook: Bullish Channel May Target Higher Levels

Lastly, on the weekly timeframe, another major bullish structure has been pointed out. Analysts note that DOGE crypto continues to respect an ascending parallel channel, and it’s currently testing support at the lower boundary. 

Historically, this zone has triggered substantial rallies, making the current price action particularly significant.

With many months left in 2025, analysts speculate that the Dogecoin price could target $0.5, $1.0, or even $2.0 based on available space towards the upper band of the channel. 

Some even forecast that DOGE may cross into double-digit territory, especially if ETF approvals and large investor inflows materialize.