Market analyst Trader Tardigrade has identified a “Double Doji” candlestick pattern on Dogecoin’s (DOGE) daily chart—an uncommon formation that historically signals major market turning points. As history has proven, experts are still unsure, since it’s possible that the formation might take place again soon.
DOGE Price Chart (Source: X Post)
A similar double doji pattern appeared on May 23 and 24, previously leading to a strong upward move in Dogecoin’s price. This historical pattern hints at a potential repeat scenario, as seen in the current setup. For deeper insights, check out this Dogecoin price prediction analysis.
The pattern was confirmed by close-together price candles, showing that buyers and sellers were matching, and this usually ends in a breakout when momentum changes. As shown on the chart, immediately after the double doji pattern, DOGE’s price moved upwards, resulting in a firm bullish breakout. As a result, the recent double doji near the $0.22 to $0.23 mark is anticipated to see similar gains if past patterns return.
DOGE Builds Bullish Case with Trendline Retest
Building on the bullish momentum, Trader Tardigrade has also drawn attention to a key support trendline on Dogecoin’s (DOGE) 4-hour chart, adding further weight to the case for an upward breakout. Per Tardigrade’s analysis, the asset is currently retesting this ascending support level around the $0.225 mark, a zone that has previously acted as a reliable launchpad for price rebounds.
DOGE Price Chart (Source: X Post)
This red trendline has been an essential base throughout numerous sessions. As DOGE reaches this point, Tardigrade believes a turnaround may happen as long as the previous support still exists. The chart outlines a probable bounce to $0.25 as a dotted line, and the current trend is approaching that territory.
DOGE Funding Rates Signal Bullish Market Bias
The supportive funding rates back up the improvement and rising sentiment around Dogecoin. According to the chart, the funding rate on DOGE has stayed firmly in the green area for several days. This indicates that long position holders are consistently willing to pay a premium to shorts to maintain their positions.
DOGE OI-Weighted Funding Rate (Source: CoinGlass)
As of May 26, 2025, the funding rate stands at approximately 0.0081%, with DOGE priced at $0.23. While the funding rate is high, leveraged long positions are the main force in the market.
When long traders cover their costs to keep their positions, it’s usually an indication of great hope for rising asset prices. Should momentum not slow and funding remain good, DOGE could benefit from positive short-term gains thanks to its trend and general market mood.
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