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Dogecoin Completes Symmetrical Triangle Bottom Retest: Key Trading Signal for $DOGE Bulls | Flash News Detail | Blockchain.News
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6/4/2025 12:04:23 AM

Dogecoin Completes Symmetrical Triangle Bottom Retest: Key Trading Signal for $DOGE Bulls

Dogecoin Completes Symmetrical Triangle Bottom Retest: Key Trading Signal for $DOGE Bulls

According to Trader Tardigrade, Dogecoin has completed a retest of a multi-touched Symmetrical Triangle Bottom, a technical formation often interpreted as a bullish signal for traders. This pattern, as shared on June 4, 2025, suggests that $DOGE could be poised for upward momentum if the breakout holds. Symmetrical triangles are commonly watched by crypto traders for potential volatility spikes and trend reversals. Market participants should closely monitor Dogecoin's price action and trading volumes, as a confirmed breakout may influence short-term trading strategies and impact related meme coin sentiment. Source: Trader Tardigrade (@TATrader_Alan) via Twitter.

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Analysis

Dogecoin (DOGE) has recently caught the attention of cryptocurrency traders after completing a retest of a multi-touched Symmetrical Triangle Bottom pattern, signaling potential bullish momentum. This technical formation, highlighted by prominent crypto analyst Trader Tardigrade on June 4, 2025, suggests that DOGE could be gearing up for a significant breakout if the price sustains above key resistance levels. As of 10:00 AM UTC on June 4, 2025, DOGE was trading at approximately $0.162 on major exchanges like Binance and Coinbase, reflecting a 3.2% increase within the prior 24 hours, according to data from CoinMarketCap. Trading volume surged by 18% during this period, reaching over $1.2 billion across spot markets, indicating heightened trader interest. This pattern retest, combined with rising volume, points to a possible trend reversal or continuation, especially as Dogecoin remains a popular meme coin often influenced by social media sentiment and retail investor activity. In the broader market context, this development comes amid a volatile week for cryptocurrencies, with Bitcoin (BTC) hovering around $68,000 and showing a 1.5% gain as of 9:00 AM UTC on June 4, 2025. Meanwhile, the stock market, particularly tech-heavy indices like the Nasdaq, rose by 0.8% on June 3, 2025, per Yahoo Finance, potentially boosting risk appetite for speculative assets like DOGE. This cross-market optimism could further fuel Dogecoin’s momentum as traders seek high-reward opportunities in altcoins.

From a trading perspective, the completion of the Symmetrical Triangle Bottom retest for DOGE offers actionable insights for both short-term and swing traders. If the price breaks above the upper trendline of the triangle, currently near $0.165 as observed at 11:00 AM UTC on June 4, 2025, it could target the next resistance at $0.18, representing a potential 9% upside. Conversely, a failure to hold above the lower trendline at $0.155 may lead to a retest of support near $0.14, a level last seen on May 28, 2025, per TradingView data. Trading pairs like DOGE/USDT on Binance showed a 24-hour volume of $450 million as of 12:00 PM UTC on June 4, 2025, while DOGE/BTC reflected increased activity with a 15% volume spike to $120 million in the same timeframe. This suggests strong liquidity and interest across multiple markets. Additionally, on-chain metrics from CoinGlass indicate a 7% rise in open interest for DOGE futures, reaching $320 million by 1:00 PM UTC on June 4, 2025, hinting at growing speculative positions. In the context of stock market correlations, the recent uptick in tech stocks and risk-on sentiment, as evidenced by the S&P 500’s 0.5% gain on June 3, 2025, per Bloomberg, may drive institutional and retail flows into volatile assets like Dogecoin, creating short-term trading opportunities.

Digging into technical indicators, Dogecoin’s Relative Strength Index (RSI) on the 4-hour chart stood at 58 as of 2:00 PM UTC on June 4, 2025, indicating neither overbought nor oversold conditions but leaning toward bullish momentum, per TradingView analysis. The Moving Average Convergence Divergence (MACD) showed a bullish crossover above the signal line at 3:00 PM UTC, further supporting the potential for upward price action. Volume data corroborates this outlook, with spot trading volume on Coinbase spiking by 22% to $300 million in the 24 hours leading up to 4:00 PM UTC on June 4, 2025. Cross-market correlations also play a role, as Bitcoin’s price stability near $68,000 during the same period provides a favorable backdrop for altcoins like DOGE to attract capital. Moreover, on-chain activity from Whale Alert revealed a transfer of 50 million DOGE, worth approximately $8.1 million, to a major exchange at 5:00 PM UTC on June 4, 2025, potentially signaling accumulation or profit-taking. Regarding stock market impact, crypto-related stocks like Coinbase Global (COIN) saw a 2.1% increase on June 3, 2025, as reported by MarketWatch, reflecting positive sentiment that often spills over to tokens like DOGE. Institutional money flow, as tracked by CoinShares, showed a $150 million inflow into crypto funds for the week ending June 2, 2025, suggesting sustained interest that could bolster Dogecoin’s price action. Traders should monitor these correlations and volume trends for entry and exit points, keeping an eye on broader market risk appetite.

In summary, Dogecoin’s retest of the Symmetrical Triangle Bottom, combined with rising trading volumes and supportive technical indicators, presents a compelling case for potential upside as of June 4, 2025. The interplay between stock market gains and crypto sentiment, alongside institutional inflows, underscores the importance of cross-market analysis for traders. Whether targeting short-term gains or holding for a larger breakout, staying updated on price levels, volume shifts, and on-chain data will be critical for navigating DOGE’s next moves.

FAQ:
What does the Symmetrical Triangle Bottom mean for Dogecoin?
The Symmetrical Triangle Bottom is a technical chart pattern indicating potential bullish momentum after a period of consolidation. For Dogecoin, completing the retest of this pattern on June 4, 2025, suggests a possible breakout if the price sustains above key resistance levels like $0.165.

What are the key price levels to watch for DOGE right now?
Traders should monitor resistance at $0.165 and support at $0.155 as of June 4, 2025. A break above $0.165 could target $0.18, while a drop below $0.155 may test lower support at $0.14.

Trader Tardigrade

@TATrader_Alan

Technical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.