Dogecoin Price: Rebounds as SPAR Switzerland Begins Accepting DOGE in Select Stores

TLDR

• SPAR Switzerland has started accepting Dogecoin payments in select stores, making it one of Europe’s first major retailers to adopt the cryptocurrency for everyday purchases
• Dogecoin is trading at $0.1976 with a 4.35% gain in the past 24 hours and a market cap of $29.81 billion
• Technical analysts have identified a cup-and-handle pattern on the charts with a potential breakout target of $0.50
• A double bottom formation has appeared on the daily chart with a key resistance level at $0.215 that could trigger a rally
• The MACD and RSI indicators suggest fading bullish momentum but analysts see strong long-term potential with support levels at $0.19 and $0.155

Dogecoin is trading at $0.1976 after climbing 4.35% in the past 24 hours. The token’s 24-hour trading volume reached $554.9 million, marking a 35.79% surge compared to the previous day.

The market capitalization stands at $29.81 billion. Over the past week, DOGE recorded a 4.71% gain despite some daily fluctuations.

SPAR Switzerland has begun accepting Dogecoin payments in select stores across the country. Shoppers can now pay for groceries and essentials using DOGE through a secure crypto payment system.

The move makes SPAR one of Europe’s first major retailers to accept the cryptocurrency. The company stated the decision reflects its commitment to flexible payment options and innovation.

Dogecoin’s low transaction fees and fast processing times make it suitable for small, everyday purchases. This aligns with SPAR’s focus on customer convenience.

Crypto analyst Crypto News Hunters highlighted the development as a step toward mainstream cryptocurrency adoption. The shift moves DOGE from digital novelty to real-world payment use.

Technical Patterns Point to Potential Breakout

Crypto analyst Elite Crypto identified a cup-and-handle formation taking shape on Dogecoin’s charts. This pattern typically appears before bullish price movements.

The formation suggests a possible move toward the $0.50 level if momentum continues building. The price is entering an accumulation area where long-term investors are positioning themselves.

Analysts believe anything below $0.155 could serve as a good entry point. Past patterns show accumulation periods tend to come before expansion phases.

Market analyst Trader Tardigrade spotted a double bottom pattern on the daily chart. This formation often marks the end of a downtrend and the start of recovery.

The pattern shows two well-defined lows around the $0.175 to $0.18 support zone. Buyers have defended this price level twice, establishing a foundation for a potential reversal.

Key Technical Levels and Indicators

The neckline of the double bottom pattern sits near $0.215. A daily close above this level would validate the pattern and could trigger a rally toward $0.24 to $0.25.

The weekly chart shows the price has fallen through the 20-EMA at $0.2238 and 50-EMA at $0.2144. This indicates short-term bearish sentiment and diminishing upward momentum.

Main support levels appear around $0.19 and $0.155. Strong resistance can be found around $0.22 to $0.23.

The MACD is showing fading bullish momentum with the lines approaching a bearish crossover. The RSI stands at 46, reflecting declining buying strength and movement toward neutral ranges.

The current price structure shows Dogecoin in a consolidation and correction phase. The token sits tightly within its range, waiting for either technical confirmation or a market catalyst.

The double bottom formation displays the characteristic “W” shape. The setup appears both visually clean and technically sound according to analysts.

DOGE frequently responds to social media activity, high-profile endorsements, or broader crypto market shifts driven by Bitcoin. Market sentiment currently leans cautiously optimistic with improving liquidity and moderate volumes.

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