Is a #DOGE bottom in?

On Dec. 20, Dogecoin witnessed a flash spike down to $0.262, but the crypto asset recovered above $0.30 within the same day. Since then, Dogecoin has maintained a daily close above $0.30, but the price remains under its 50-day EMA level.

Based on a historical outlook, a bottom could be in for Dogecoin because it has already exhibited a liquidity sweep of key levels at $0.32 and $0.34. Earlier this month, Cointelegraph reported a fractal formation from January 2024, where a bearish engulfing confirmation dragged prices down by 25-30%.

In December 2024, a similar situation unfolded with DOGE, where the crypto asset is establishing a bottom after its recent 25% drop.

With the relative strength index (RSI) bottoming below 30, selling pressure is also nearing exhaustion, and a reclaimed position above $0.35 will trigger a higher high for DOGE in 2025.