Dogecoin At The Level Of Success: Is There A Possibility Of A 100% Rise?

Dogecoin is reevaluating an important support zone on the higher time frame, the bottom of the channel, which previously triggered a significant bullish expansion. With the price structure still in a fall, the current question is whether history will repeat itself, creating another strong bullish move from this key trading position. The price action of Dogecoin on higher time frames is starting to resemble the structure leading up to its most recent major bullish expansion. While the overall structure remains bearish — with a clear series of lower highs and lower lows — the price has returned to a zone of historical significance. This zone, known as the support of the bottom channel, has held firm in the past and triggered a major bullish rally. Now that the price has returned to this zone, traders are closely watching for signs of a similar setup forming. The main points discussed in this article: Dogecoin is still in a bearish structure but is testing the lower support level of the main channel. Historical context shows that a similar base at this level led to a substantial bullish movement. A breakout supported by higher-than-average trading volume could trigger a move up of more than 100%.

Price action has largely been defined by weakness since re-entering a multi-year range, with each bounce creating lower highs followed by lower lows. This has sustained a bearish sentiment and prevented any long positions from the buyers. However, these desperate patterns often mark significant bottoms — especially when they occur at proven support zones such as the lows of the current channel.

The last time Dogecoin tested the low of this zone, it spent a long time forming what is called a rounded bottom — a classic bottoming pattern that sets the stage for a strong reversal. Ultimately, this pattern led to a strong breakout, driven by large volumes and market participation. Now, the price is approaching that same zone once again and although there is no guarantee that it will repeat, the likelihood of a similar bullish outcome will increase if the price can hold steady and build structure here.

The volume profile plays an important role in this setup. Currently, volumes are falling, which is often a harbinger of volatility. Whether this manifests itself in a bullish or bearish breakout is unknown, but one thing is clear: a volatile move is forming. Traders should be patient, watch for changes in structure and, more importantly, an impulsive, above-average increase in volume to confirm a breakout in the direction. If the price holds the low support level of the channel and starts to form higher lows or circular structures, then this could be a strong buying opportunity. Traders should look for confirmation of volume and structure forming at the bottom, with the target set towards the high of the channel—offering a 100% upside potential or more.