Dogecoin has broken above a key trendline, echoing a similar setup from 2024, with current prices holding above $0.23 and targeting $0.25–$0.29.
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DOGE breaks key trendline, repeating 2024 rally setup after $0.10 to $0.48 surge pattern.
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Price holds above $0.23 pivot with whale accumulation and strong volume backing bullish momentum.
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Technicals show room to $0.27–$0.29 if resistance levels are cleared and support zones hold.
Dogecoin breaks a key trendline, echoing the 2024 rally setup, holding above $0.23 as whale buying and strong volume target $0.25–$0.29.
Breakout Pattern Mirrors 2024 Rally Setup
Dogecoin’s recent move mirrors its 2024 rally, as noted by GalaxyBTC on X after a trendline retest. The previous breakout led to a sharp rally toward $0.50, and a comparable structure has now formed in mid-2025. DOGE is trading at $0.2386, recording a 7.24% gain in the past 24 hours.
$DOGE retest and bounce from the trendline, similar to 2024 before the run from $0.1 to $0.48.
Let’s see what it does now. pic.twitter.com/6Et16l4Tgw
— Galaxy (@galaxyBTC) August 9, 2025
The market capitalization has reached $35.9 billion, while trading volume is $2.7 billion. The volume-to-market cap ratio stands at 7.5%. Price action began near $0.2234 before climbing sharply and holding above $0.23 for most of the session.
KrissPax noted that penny by penny, higher and higher, if DOGE can cleanly move up a little more above $0.24, then pull back to maybe $0.2399, that will be a clean setup to begin the path to $0.25 next.
Technical Structure and Key Price Levels
On the technical side, the DOGE RSI stands at 57.52, leaving room before overbought levels. The price is above its 7-day SMA at $0.21 and its 20-day SMA at $0.22, confirming a breakout from recent consolidation. Bollinger Bands show room for upward movement toward the upper band at $0.27.
Immediate resistance is seen at $0.29, while support lies at $0.19 and $0.14. The daily pivot point is $0.23, which DOGE has reclaimed. According to market data, sustained trading above this level could open a path toward the $0.25–$0.29 range.
Increased whale accumulation over the past 48 hours has supported the bullish trend. This follows renewed speculation of DOGE payment integration on the X platform, which previously triggered short-term rallies.
Frequently Asked Questions
What factors are driving Dogecoin’s price increase?
Increased whale accumulation and strong trading volume are key factors driving Dogecoin’s recent price increase.
How does Dogecoin compare to other cryptocurrencies?
Dogecoin’s recent breakout and price action show it is gaining momentum, especially compared to other major cryptocurrencies.
Key Takeaways
- Dogecoin’s breakout: The cryptocurrency has broken a key trendline, indicating potential for further gains.
- Market conditions: Strong whale activity and trading volume support the bullish outlook.
- Price targets: Immediate targets are set between $0.25 and $0.29 if current support holds.
Conclusion
In summary, Dogecoin’s recent price action and technical indicators suggest a bullish trend, with potential targets of $0.25–$0.29. As the market evolves, keeping an eye on whale activity and volume will be crucial for future movements.
