Dogecoin is showing signs of quiet accumulation, with a potential trend reversal indicated by a double bottom pattern on the weekly chart.
The key support level at $0.142 is crucial for a potential breakout, with attention on the neckline resistance at $0.26 and a target of $0.47 if bullish momentum continues.
Indicators like the ADX and RSI suggest a possible weakening of the recent downtrend and increased buying interest, hinting at a potential reversal in Dogecoin's price movement.
Market optimism, including anticipation of a spot DOGE ETF approval, along with accumulation by retail traders and larger investors, may pave the way for a breakout towards the $0.47 target.