What to Know
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Dogecoin price is up 1.22% to $0.204, outperforming broader the crypto market.
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RSI signals, whale activity, and institutional buying hint at a potential 100–150% rally if support holds.
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Protocol upgrades and ETF filings could transform DOGE to a utility asset.
Over the past day, Dogecoin’s price has gone up 1.22% to $0.204, compared to the 0.27% rise of the overall cryptocurrency market. There are a lot of bullish technical signs, institutional speculation, and big whales buying up DOGE, which could make it go up.
Dogecoin Price Nears Key RSI Level Linked to Past Rally
Traders are closely watching Dogecoin’s 4-hour RSI, which neared oversold territory and is currently sitting at 45.48. Historically, when RSI levels are in this neutral zone (approaching oversold but not quite there), a breakout can follow and that’s exactly what happened in June 2025, when DOGE rallied 70% from $0.14 to $0.28.
According to analysts, this same RSI level was seen right before that explosive run. Now, with DOGE bouncing from a strong $0.20 support, many believe we could be witnessing the beginning of a similar pattern. This level has historically acted as a psychological anchor when Dogecoin drops close to it, retail buyers and large holders alike step in.
Developments around DOGE
Institutional interest in Dogecoin gained traction after the SEC acknowledged 21Shares’ DOGE ETF filing on May 13, triggering a 240-day review window. This follows similar filings from Grayscale and Bitwise.
Although an approval may not arrive until 2026, analysts estimate a 63–75% chance of eventual acceptance. Still, delays persist: the SEC recently postponed its decision on Bitwise’s DOGE ETF to November. Interestingly, these delays haven’t dampened market interest much, with $223 million being pulled out of crypto ETPs last week, indicating that investor sentiment is still divided.
Last month, DogeOS submitted a proposal to Dogecoin Core introducing zero-knowledge proof verification. This allows trustless interoperability between DOGE and Ethereum, enabling Dogecoin to be used in DeFi, NFTs, and gaming through zk-rollups. This is a massive step for utility and could drive long-term value, but the upgrade still requires community consensus and technical integration. If successful, it would attract more developers to Dogecoin’s $31B ecosystem and position DOGE as more than just a memecoin.
Whale Moves Are Reinforcing Dogecoin Price Support
On-chain metrics reveal whales have accumulated approximately 310 million DOGE worth around $63 million in just two days following last week’s pullback to $0.22. One high-profile trader reportedly opened a $21 million long position at $0.233 with 10x leverage via Hyperliquid, mirroring their prior $2.14 million profitable DOGE bet. But the increasing use of leverage brings short-term liquidation risks, especially if DOGE doesn’t stay above $0.20.
Recently Bit Origin (BTOG) also launched a DOGE treasury strategy similar to MicroStrategy’s approach with Bitcoin. With the help of an initial $15 million convertible debt round, the company wants to build a $500 million Dogecoin reserve and rebrand itself to fit in with the DOGE ecosystem. This bold move shows that businesses are starting to believe in Dogecoin’s long-term potential, even though the full raise is still going on. Putting DOGE into long-term treasuries could also help keep the price stable.
Dogecoin Price Outlook
On-chain data shows institutions poured in over $100 million of DOGE since early July, sparking record trading volume that nearly tripled typical daily averages around mid‑July. This institutional influx helped push DOGE past long‑term resistance in daily charts, setting the stage for a potential 100–150% rally in coming weeks if momentum holds. At the same time, the MACD momentum is flattening, hinting at a bullish crossover just beneath current price levels.
Conclusion
Technical momentum, speculative ETF optimism, and confident whale accumulation are all helping Dogecoin’s price rise. But August is usually a bad month for crypto and with regulatory delays, short-term volatility is still a risk.
With RSI nearing oversold, whale accumulation growing, protocol upgrades enabling DeFi expansion, and institutional money flowing in, the case for a DOGE breakout is strong. Traders should keep a close eye on DOGE to see if it can get back above $0.21 and stay there. In that case, it is more likely that the price will go back to the $0.24–$0.26 range, or it could go back up to $0.19 support or even lower. Like most memecoins, feelings change quickly. But for now, it looks like bulls are back in charge, at least until the next resistance.
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