Dogecoin Forms Rounded Support Base At $0.2296: Is Another Vertical Rally Forming?

Dogecoin’s chart reveals a recurring pattern of accumulation phases followed by sharp vertical rallies.

The latest 24-hour price movement saw a 1.39% rise, peaking above $0.237 before correcting to $0.229.

Trading volume surged 58.94% to $1.92 billion, reflecting increased market activity and investor engagement.

Dogecoin’s price history reveals a repeating cycle of extended consolidation, rising support levels, and sudden vertical rallies. Over several years, the chart illustrates how each accumulation period eventually gave way to strong surges, forming a recognizable pattern in the cryptocurrency’s trading behavior.

DOGE Early Consolidation and First Breakout

The earliest stage displayed prolonged consolidation, where prices gradually advanced along a curved base. This period ended when price action broke out, marking the first major upward phase. The pattern showed accumulation across months before momentum shifted into higher levels.

Source: X

A similar structure appeared during the following cycle. Price traded within a defined range, holding higher lows along an ascending line. When pressure built, the chart recorded another steep rally, which lifted Dogecoin to significantly higher valuations. Afterward, the market paused again, with sideways movement dominating before another curved base formed.

The most notable move occurred when the price climbed from lower ranges to over $0.70, setting an all-time high. Following that peak, Dogecoin corrected but continued to record higher lows. The chart now reflects another rounded support base, consistent with prior formations across earlier market cycles.

Dogecoin Rises 1.39% in 24 Hours as Trading Volume Surges to $1.92 Billion

At the time of writing this piece, a CoinMarketCap price report reveals that Dogecoin (DOGE) traded at $0.2296, recording a 1.39% increase over the last 24 hours. The market cap reached $34.7 billion, rising 1.4% within the same period. Trading volume in 24 hours totaled $1.92 billion, marking a 58.94% surge. The volume-to-market cap ratio stood at 5.47%, showing increased trading activity.

Source: CoinMarketCap

The price chart tracked DOGE’s performance across the past day. The coin opened around $0.2267 before experiencing upward momentum. The price steadily increased throughout the evening, peaking above $0.237 in the early morning hours. Following the peak, DOGE faced minor pullbacks and price corrections through mid-morning.The chart shows fluctuations between $0.232 and $0.235 before entering a gradual downward trend. By noon, DOGE dropped slightly, settling at $0.229. The graph displayed a typical intraday cycle with a sharp rise followed by a moderate decline. DOGE remained actively traded throughout the 24-hour window. The price movement included both accumulation and profit-taking phases. Market cap and volume moved consistently with price action.