Can Dogecoin price rebound to $0.15 as rounded bottom pattern forms?

Dogecoin price continued stabilizing above a key support zone this week after forming a bullish rounded bottom pattern on the daily chart, while rising derivatives activity and growing institutional optimism strengthened the case for a larger recovery rally.

According to data from crypto.news, Dogecoin (DOGE) price traded around $0.111 at press time on May 15 after briefly climbing toward the $0.117 region earlier in the session. The token has gradually recovered from its April lows near $0.085 as speculative demand returned across the meme coin sector alongside improving sentiment in the broader crypto market.

One of the biggest catalysts supporting Dogecoin remains growing regulatory clarity in the United States. Recent joint classification guidance from the SEC and CFTC recognizing Dogecoin as a digital commodity has significantly reduced concerns surrounding potential “unregistered security” enforcement risks.

The development has helped improve institutional confidence toward the asset while supporting optimism surrounding future regulated investment products tied to Dogecoin.

Investor sentiment has also strengthened following continued progress surrounding Dogecoin-related exchange-traded fund initiatives. Recent Bitwise regulatory filings and the launch of a 21Shares Dogecoin product have fueled expectations that institutional access to the token could continue expanding over time.

At the same time, derivatives data suggest traders are increasingly positioning for a larger breakout move. Dogecoin open interest surged more than 5% over the past 24 hours to roughly $1.8 billion, while daily futures trading volume jumped 44% to nearly $4 billion, signaling aggressive leveraged positioning from both retail and institutional participants.

On-chain metrics additionally show continued accumulation among large holders. Whale wallets reportedly accumulated more than 160 million DOGE this month, helping create a stronger demand floor during recent market consolidation.

Dogecoin price analysis

On the daily chart, Dogecoin has now formed a rounded bottom pattern after spending several months gradually stabilizing following its sharp correction earlier this year. The formation typically signals weakening bearish momentum and the early stages of a bullish trend reversal.

The neckline resistance of the rounded bottom sits near the $0.156 region, which also aligns closely with the overhead Supertrend resistance visible on the chart.

If bulls successfully reclaim the neckline resistance, the breakout could confirm the pattern and potentially trigger a stronger continuation rally toward the $0.15–$0.16 region in the near term.

Momentum indicators are also beginning to support the bullish structure. The MACD remains in positive territory on the daily timeframe, while the histogram recently printed multiple green bars, signaling that bullish momentum may still be building despite the recent consolidation.

Beyond the short-term setup, traders are also closely monitoring Dogecoin’s longer-term ecosystem developments. Core developers have floated a proposed hard fork that would reduce DOGE block rewards by roughly 90%, potentially cutting annual supply inflation from nearly 5 billion coins to around 500 million.

Meanwhile, DogeOS development plans involving zero-knowledge proof verification and Ethereum-compatible smart contract functionality have strengthened speculation that Dogecoin could gradually evolve beyond its meme coin narrative into a broader utility-focused network.

However, Dogecoin still faces strong resistance near the $0.12 region before bulls can challenge the larger neckline resistance near $0.156. Failure to sustain momentum above the current breakout structure could push DOGE back toward support levels near $0.10 and $0.09, where buyers previously defended the trend reversal attempt earlier this quarter.