Dogecoin Cup And Handle Forming – Big Move About To Happen?

Dogecoin has dropped by more than -57% from its peak on December 8th at $0.4843, but the bottom may be near. In a technical analysis shared on X, Rose Premium Signals (@VipRoseTr) highlighted a setup with the potential for Dogecoin (DOGE) to rise, driven by the classic "Cup & Handle" pattern. Dogecoin Cup And Handle May Appear According to the chart, DOGE price may face the final dip before finding a low near the $0.16896 support zone. This level marks the basis of the probable Cup & Handle pattern—one characterized by a circular "cup," followed by a smaller reinforcement or "handle." Technically, the cup phase reflects the market's attempt to find a bottom, while the handle phase usually forms as a short pullback or lateral movement before a possible breakout.

The key resistance for DOGE's next move seems to be near $0.29124. If the price rises above this level, it could confirm the Cup & Handle pattern and potentially trigger a strong rally. The chart indicates that traders may interpret a daily or weekly close above $0.29124 as a confirmation signal, likely opening up price momentum. “DOGE is showing strong price increase potential as it approaches a key reversal zone. The price has reached the support level of $0.16896, in line with the potential Cup & Handle pattern. A breakout above $0.29124 could confirm a price surge towards a new high,” Rose Premium Signals wrote via X. In terms of price targets, Rose Premium Signals points out that DOGE could rise to the range of $0.50 - $0.60 if the Cup & Handle pattern unfolds as predicted. This target corresponds to historical areas of upward trading activity and psychological levels that typically attract traders' attention. This analysis also hints at further price potential, suggesting that Dogecoin's trajectory could extend beyond $0.60 if positive sentiment strengthens. "The long-term target is around $0.50 - $0.60, with the potential for further price increases. If the upward trend continues, Dogecoin could reclaim its meme currency status and move towards higher levels," analysts said. This comment emphasizes DOGE's ability to regain its position among the top meme coins. While the recent memecoin frenzy has flooded the market with thousands of smaller tokens, diverting attention away from the original memecoin, Dogecoin, the landscape may be changing. After the memecoin bubble burst — reaching its peak with TRUMP, MELANIA, and LIBRA — focus may soon return to DOGE as traders seek assets that are more established in this space. From a technical perspective, a breakthrough that determines sustainable growth momentum can spark the interest of both retail and institutional investors, pushing DOGE to a higher resistance level and confirming the potential Cup & Handle pattern.