According to Trader Tardigrade, Dogecoin ($DOGE) has broken out of a key price channel, a technical pattern frequently observed prior to significant price spikes. The breakout aligns with previous price actions that led to rapid upward movement, suggesting traders should closely monitor $DOGE for increased volatility and potential bullish momentum. Channel breakouts are commonly used by crypto traders to identify entry points, and this event could attract both momentum and swing traders seeking short-term gains (source: Trader Tardigrade, Twitter, May 16, 2025).