The Dogecoin (DOGE) price chart is showing the formation of a bullish “Adam and Eve” double bottom pattern, which is a market structure that usually precedes a large price spike.

This pattern appeared on the weekly chart and follows a recent surge in interest from institutions and whales, which is evident in on-chain data.

Dogecoin Price Drops 0.73% within 24 Hours

On Friday, May 26, Dogecoin saw a modest dip of 0.73% over the past 24 hours, trading at $0.2254—or approximately IDR 3,659. During the day, DOGE reached a high of IDR 3,763 and a low of IDR 3,570.

At the time of writing, Dogecoin’s market cap stands at around $33.72 billion, with trading volume rising 16% to $1.46 billion within 24 hours.

Dogecoin Price Targeting $1 After Forming Rare 'Adam And Eve' Pattern

Dogecoin price is targeting a potential breakout of 88.97% towards $1 (IDR17,470) along with the completion of the rare “Adam and Eve” double bottom pattern on the weekly chart.

This meme coin is currently consolidating around $0.228, after forming an “Eve” round bottom from mid-2022 to late 2024, and a sharp V-shaped spike that formed an “Adam” structure in early 2025.

The Adam and Eve pattern is a reversal structure that usually marks the end of a prolonged downtrend. The pattern consists of two distinct valleys – a more rounded first valley (Eve) and a sharper second valley (Adam).

When the price breaks the resistance at the neckline, it usually signals a change in trend direction.

For DOGE, the neckline is around $0.56958, with the lowest point of the pattern being reached at $0.058. The breakout target is projected by measuring the vertical distance from the lowest point of the pattern to the neckline at $0.51158.

Adding this figure to the neckline yields a bullish target of $1,081 (IDR17,470), which indicates a potential upside of about 89.97%.

A weekly price close above $0.56958, supported by increased volume and momentum, would validate this pattern and signal the beginning of a sustained uptrend.

Also, the formation of higher lows in the DOGE market structure during the Adam phase suggests that momentum is building.

If the bulls manage to break the neckline decisively, the $1 psychological level could return to the market’s focus for the first time since 2021.

Huge Interest From Whales Could Push Dogecoin Price Up

On-chain data further strengthened Dogecoin’s bullish outlook after it revealed a significant spike in accumulation by whales.

Wallet addresses holding between 100 million and 1 billion DOGE have purchased an additional 3.61 billion tokens since January 23, 2025.

According to the data from the blockchain analytics firm Point Global, these large wallets have consistently been accumulating the meme coin, which signals a growing interest in the cryptocurrency.

Throughout this period, these whales have been diligently scooping up the meme coin, especially during periods of price dips or consolidation.

Historically, the Dogecoin price has often experienced sharp spikes whenever there is a huge interest from whales in accumulating the coin.

If this pace of buying continues, it could be the push the meme coin needs to break the neckline of the double bottom pattern.

Technically, the double bottom “Adam and Eve” pattern currently forming on DOGE’s weekly chart also supports a huge upside potential.

A similar pattern was seen on the Solana (SOL) chart in October 2024, when the price moved from the $130-$140 zone and managed to breakout above $160 on October 7, 2025. The pattern forming in Dogecoin suggests the potential for similar price movements.

Overall, Dogecoin price has a great chance to break above the $1 level, supported by strong technical signals and on-chain data. This massive accumulation action started during the price consolidation phase, indicating that smart investors have pre-positioned ahead of a potential major rally.

This strategic capital flow is in line with the Adam and Eve pattern, further strengthening the bullish projection for Dogecoin.