Dogecoin Surges 7% as Double-Bottom Break Sparks DOGE Rally
Dogecoin (DOGE) rose to $0.126, increasing about 6.6% on the day by breaking the $0.121 resistance with the strongest trading volume in weeks.
Trading volume surged with approximately 1.23 billion DOGE traded, about 183% above the daily average, with a key impulse near 15:00 on January 1 reaching around $0.127.
The technical setup reveals a double-bottom pattern around $0.120–$0.121; a breakout above this zone converts it into a potential retest area and establishes a higher-low sequence into the close.
Price action showed DOGE holding above $0.1245 into the close and consolidating near $0.1264, accompanied by reduced volatility and no immediate selling pressure reclaiming control.
Key levels to watch include maintaining the $0.1245–$0.125 range, which could push the price toward $0.132–$0.134; breaking above $0.132 may target about $0.136.
If DOGE falls below $0.1245, the breakout may fail and price might revert toward $0.121. Should $0.121 be retested and not hold, the move would be considered a relief rally with downside risk toward $0.118–$0.109.
DOGE also acts as a sentiment proxy for risk-on conditions in the crypto market, with spot-driven rallies appearing cleaner amid reduced leverage and meme tokens stabilizing during year-end and early January positioning.
