Dogecoin News: Dogecoin Price Eyes 25% Rally After Elon Musk’s New DOGE Tweet Sparks Bullish Chart Setup

Key TakeawaysElon Musk’s latest X post featuring Dogecoin’s mascot sparked a fresh price rally.DOGE jumped 2.5% to $0.20, extending its 55% rebound from a recent two-week low.The Adam & Eve double-bottom pattern points to a potential 25% upside toward $0.26.Short liquidations above $0.216 could fuel a breakout and accelerate gains.Dogecoin (DOGE) surged 2.5% to $0.20 on Monday after Elon Musk shared a cryptic X post featuring the memecoin’s mascot — the Shiba Inu dog that has long symbolized Dogecoin’s community. The post reignited bullish sentiment and pushed DOGE up as much as 29% intraday, echoing memories of Musk’s 2021 tweets that triggered DOGE’s meteoric rise to $0.73.The latest move continues Dogecoin’s sharp 55% recovery from its recent April low of $0.13, marking one of its strongest two-week performances this year.Bullish Chart Signals: Adam & Eve Pattern Targets $0.26Technical analysis suggests that DOGE is forming an Adam and Eve (A&E) double-bottom pattern, a classic bullish reversal structure characterized by a sharp “V”-shaped low followed by a rounded bottom.DOGE’s neckline sits near $0.216, and a confirmed breakout above this level could propel the price toward $0.26, representing a 25% upside from current levels.The target coincides with the 0.382 Fibonacci retracement level on DOGE’s weekly chart and aligns with a major technical confluence zone, reinforcing the bullish setup.DOGE’s recovery from a trendline and 0.236 Fib support cluster further supports the idea that buyers are defending key levels while positioning for higher targets.Short Squeeze Could Accelerate DOGE RallyData from CoinGlass shows that most short liquidations are clustered between $0.215 and $0.27, while long liquidation zones remain minimal below $0.18. This imbalance indicates lower downside risk and a potential short squeeze if DOGE breaks above its neckline.A sustained breakout above $0.216 could trigger massive short covering, propelling DOGE rapidly toward $0.26 as bearish traders are forced to buy back positions.