Dogecoin gains 2.74%, analysts eye $5 on double-bottom chart pattern

Technical Outlook: Double-Bottom in Focus

Traders are closely monitoring DOGE’s weekly price chart for signs of a potential trend reversal. Typically, this formation suggests buyers are attempting to establish a base after extended weakness.

The double-bottom structure remains incomplete and a short-term decline could still occur before confirmation. The chart’s neckline sits at $0.40, serving as a key resistance level. A decisive move above this line would confirm the bullish formation and potentially open the way for a much higher price target.

Trader Tardigrade indicated that Dogecoin’s double-bottom is forming on the weekly chart, emphasizing the structure’s bullish potential if the neckline at $0.40 is broken. The target of $5 was reiterated as a longer-term outlook, contingent on confirmation of the pattern.

Analysts also warn that as long as DOGE remains beneath the neckline, the setup is considered unconfirmed. Support at current levels must hold for the bullish scenario to remain valid. Should the neckline break, some traders believe this could trigger a rally toward the $5 area, far above its current price.

Robinhood Lists Dogecoin in the European Union

In a move that could expand liquidity and user participation, Robinhood announced that Dogecoin is now available for eligible users in the European Union. EU residents can now access DOGE via the regulated Robinhood platform, increasing legal trading options for investors in the region.

Robinhood’s addition of Dogecoin for EU users is considered a major step, granting new access and potentially supporting greater trading volume.

Although such listings do not guarantee immediate price gains, new points of access typically contribute to more active trading and wider adoption. DOGE’s presence on multiple platforms over recent years has steadily increased, reflecting growing mainstream recognition among financial services.

Broader Trends and Market Shifts

Recent price gains in the broader crypto market, led by Bitcoin’s upward move, have coincided with DOGE’s own momentum. Market participants are now focused on whether DOGE can maintain its technical support associated with the double-bottom pattern and if it can clear the $0.40 neckline that would confirm a bullish reversal. Failure to hold these levels could delay or invalidate the currently watched setup.

Meanwhile, new solutions are enabling wider asset access and more direct control for investors. While traditional markets have relied on intermediaries, a significant shift is underway as Wall Street moves toward Web3 technologies. Platforms such as 1stepSwap allow investors to hold tokenized shares of leading U.S. companies, as well as gold and silver, directly in crypto wallets. By automating price discovery and removing intermediaries, they broaden opportunities for users seeking more efficient asset exposure.

With Dogecoin’s technical signals developing and its market reach increasing, both technical and structural factors remain closely watched by the community. DOGE remains at $0.09272, up 2.74% over the past day, with its market cap steady at $15.8 billion.