According to Trader Tardigrade, Dogecoin's price relative to the total crypto market cap (#Dogecoin/#Total) is forming an identical falling wedge pattern seen before its last major rally. The previous breakout from this technical formation led to a 300% gain for DOGE, suggesting traders should closely monitor for a potential bullish breakout. Technical traders are likely to consider this setup as a high-probability opportunity, referencing historical price action as a guide for possible upside. Source: Trader Tardigrade on Twitter.

According to Trader Tardigrade, Dogecoin's daily chart is displaying a Diamond Bottom reversal pattern, which typically signals the end of a downtrend and the beginning of an uptrend for the DOGE price (source: @TATrader_Alan, May 6, 2025). This technical setup is closely watched by crypto traders, as a confirmed breakout above key resistance could increase DOGE's trading volume and attract short-term momentum investors. Market participants should monitor trading indicators and price action for confirmation, as this pattern often precedes significant price rallies in the cryptocurrency market.