Dogecoin breaks double-bottom, jumps about 7% on volume-led rally

Dogecoin climbed to $0.126 after buyers cleared the $0.121 resistance band on the strongest volume in weeks, turning a compression zone into a breakout and shifting focus to whether the move can be defended.

DOGE rose 6.6% from $0.1185 to $0.1263, printing session highs near $0.127 as trading activity hit 1.23 billion tokens—about 183% above the daily average—with the key impulse arriving at 15:00 on Jan. 1.

Technically, the token appears to have completed a double-bottom base around $0.120–$0.121. The break above that band flips it from resistance into a potential retest zone and established a clean higher-low sequence followed by consolidation rather than an immediate reversal.

The breakout was supported by spot activity, a sign of healthier market participation after a thin-liquidity December when breakouts tended to occur in concentrated bursts. With leverage reduced in parts of the market, spot-led rallies have looked cleaner than derivatives-driven spikes.

Key levels to watch: if $0.1245–$0.125 holds, DOGE could grind toward the next supply zone at $0.132–$0.134 and potentially $0.136. If $0.1245 fails, the breakout risks collapsing back toward the $0.121 base, and a failed retest there would reopen downside toward $0.118–$0.109.

Bottom line: the breakout succeeded, but the tape now needs to prove the reclaimed level can be defended to confirm further upside.

Key Topics

Crypto, Dogecoin, Markets, Technical Analysis, Spot Trading, Meme Tokens