Dogecoin price recovered after a steep decline that started in late November. Sellers pushed DOGE below $0.1320 on December 2, but buyers reacted fast. The meme coin then bounced toward the $0.1500 region and held most of those gains. In the short term, this move erased a large part of the recent loss.

Trading data shows strong buy volume during the rebound. This activity followed a period of heavy selling pressure that weakened in early December. As a result, DOGE price now trades only slightly below levels from mid-November. However, DOGE still trades lower on the weekly and biweekly charts, so the broader trend remains soft.

Double Bottom Pattern and Dragonfly Doji Support Bullish Dogecoin Outlook

On the 12-hour Dogecoin chart, some traders now see what looks like a double bottom. The coin printed two close lows around the early December bottom, and each time the price bounced sharply from that zone. This pattern hints that bears cannot push DOGE cleanly below that support area, while buyers continue to step in there. Additionally, support appears near the mid-$0.14 range, which acts as the neckline for this pattern.

On the weekly chart, Trader Tardigrade highlights a Dragonfly Doji candlestick near a long-term trendline. The candle shows that bears drove the price lower, yet buyers finally returned and forced a close near the open. In previous cycles, similar signals near this trendline came before rallies of more than 80%. Traders now watch this area to see if a new bullish phase will develop.

21Shares Dogecoin ETF Update Lifts Sentiment Around DOGE Price

Market sentiment around Dogecoin also improved after progress on the 21Shares Dogecoin ETF filing. The latest amendment sets a 0.50% management fee for the planned TDOG spot ETF. It also names Bank of New York Mellon, Anchorage Digital Bank, and BitGo as key service providers. After this disclosure, Dogecoin price recorded an intraday jump of more than 10%.

Dogecoin has bounced, but it still trades under both the 50-day and 200-day moving averages. Traders now focus on a few clear levels. On the upside, many watch resistance around $0.1600, with a stronger barrier near $0.1700. 

On the downside, short-term support sits close to $0.1450, while $0.1380 acts as a deeper line in the sand if the price pulls back. A clean daily close above $0.1500 would signal that buyers still control the market and could try to push the price toward the next resistance zone.

Broader crypto markets show mixed performance in early December. Many large coins move sideways while selected altcoins attempt modest rebounds. Dogecoin price stands out because its daily gain nears 10%. However, DOGE still trades about 7% lower on the week. Analysts point out that the 21Shares ETF update lands amid growing interest in crypto funds from retail and institutional investors.

Also Read: Dogecoin Whales Stop Moving: What’s Happening?