According to Trader Tardigrade, Dogecoin has formed an inverse head and shoulders pattern on the hourly chart, which is widely recognized as a bullish technical indicator suggesting a potential upward reversal for DOGE prices (source: Trader Tardigrade on Twitter, May 7, 2025). This pattern's confirmation could trigger increased buying interest and higher trading volumes among short-term traders, making DOGE a key watch for crypto momentum strategies. Traders should monitor for a breakout above the neckline to validate the bullish setup and consider risk management as volatility may increase.