Dogecoin News Today: DOGE Hovers Near $0.2279 Ahead of Key Breakout Chance

DOGE is showing mixed signs ahead of August 12, as technical indicators and price patterns suggest both consolidation and potential for a breakout. The hourly chart indicates that the price is approaching a key resistance level at $0.2279, and a successful break could push the price toward $0.23 or higher [1]. However, the broader time frames suggest a more sideways movement, with no strong signals from either buyers or sellers. This implies that traders should expect the price to remain within a range of $0.22 to $0.25 until the end of the month [1].

Technical analysts have noted that DOGE is forming a triangle pattern characterized by rising lows and a defined upper resistance level. A breakout from this pattern could trigger a 50% price increase [3]. In addition, the price is currently near a golden cross on the daily chart, a historically bullish formation that has led to substantial price rallies in the past. Some analysts draw comparisons with the 2021 bull run, when DOGE surged over 300% following a similar setup [4].

On-chain metrics also support a potential bullish move. The RSI has moved out of oversold territory, Chaikin Money Flow is positive, and the Awesome Oscillator shows rising momentum, all pointing to accumulation rather than distribution [4]. According to one forecast, the price is expected to reach $0.2290 by August 12, 2025, based on a daily growth rate of 0.014% [5]. However, recent 24-hour data showed a short-term price drop of 6.88% to $0.22, attributed to increased sell-side liquidity and a surge in trading volume [6].

Despite the recent dip, the 30-day Market Value to Realized Value (MVRV) ratio suggests that DOGE remains undervalued, indicating potential for a rebound [4]. Longer-term forecasts are even more optimistic, with one analyst predicting a 303.94% rise to $0.900398 by December 28, 2040 [7]. In the short term, clearing the $0.25 resistance could lead to a move toward $0.38, while further wave analysis suggests potential targets of $0.50, $0.74, and even $1 by year-end [4].

The price of DOGE at press time is $0.2274, with market sentiment showing a mix of optimism and caution. While some analysts highlight the coin’s positioning within a defined pattern and increasing whale activity as positive signals, others caution about the inherent volatility of meme coins. The price has already seen a 70% drop from its all-time high, underscoring the risks involved [4]. Nonetheless, the growing confidence among large holders and favorable technical conditions suggest that DOGE may continue to attract attention from both retail and institutional investors in the near term.

Sources:

[1] DOGE Price Prediction for August 12 (https://u.today/doge-price-prediction-for-august-12)

[2] Dogecoin Price Prediction: $0.23 To $10, Will DOGE ... (https://crypto-economy.com/dogecoin-price-prediction-0-23-to-10-will-doge-recreate-magic-or-is-this-the-upcoming-1100x-meme/)

[3] Dogecoin (DOGE) Price: Triangle Pattern Sets Up Potential ... (https://coincentral.com/dogecoin-doge-price-triangle-pattern-sets-up-potential-50-surge/)

[4] DOGE Price Heads For Golden Cross: Will Dogecoin ... (https://99bitcoins.com/news/presales/doge-price-heads-for-golden-cross-will-dogecoin-repeat-300-rally-pattern)

[5] Dogecoin (DOGE) Price prediction (https://www.bitget.com/price/dogecoin/price-prediction)

[6] DOGE Price Prediction: Can the Memecoin 10X to $1? - BTCC (https://www.btcc.com/en-US/square/DOGE%20News/791767)

[7] DOGE Eyes $0.70: Will Dogecoin's Next Move Make You ... (https://watcher.guru/news/doge-eyes-0-70-will-dogecoins-next-move-make-you-rich)