Dogecoin News Today: Dogecoin's Bull Case Hinges on Breaking $0.29 Resistance

Dogecoin (DOGE) is showing signs of forming a technical pattern that could mirror its 2024 rally, according to several analysts. The cryptocurrency, currently trading near $0.21 with a daily turnover of about $3.1 billion, has drawn attention for its potential to break out of a rounding bottom and converging triangle pattern. Analyst Crypto Zeinab highlighted that a breakout above the $0.29 level could drive DOGE toward $0.49 and potentially $0.80 by the end of the year, mirroring the previous surge from $0.18 to $0.49 in 2024 [1].

This potential move is supported by the long-term accumulation phase that Dogecoin has historically followed before significant price surges. Galaxy, a leading crypto analytics firm, noted that DOGE is in its third major accumulation stage, similar to the patterns observed in 2017 and 2021 [1]. Monthly price action also suggests steady support levels that historically precede renewed market interest.

Despite these bullish technical signals, DOGE faces near-term security risks. The Qubic blockchain community recently voted to direct hashpower at Dogecoin for a potential 51% attack, raising concerns among investors. Qubic previously executed a similar move against Monero, highlighting the potential for coordinated disruptions to smaller proof-of-work chains [2]. This has coincided with a drop in DOGE futures open interest, which fell by 8% in recent weeks, signaling reduced short-term confidence [2].

However, whale activity suggests ongoing accumulation despite the volatility. Large holders added about 680 million DOGE in August, indicating that significant investors remain optimistic about long-term exposure [1]. This trend aligns with the broader narrative of institutional and corporate interest in Dogecoin’s mining infrastructure.

Thumzup Media Corporation, a Nasdaq-listed company and parent firm of Donald Trump Jr., is acquiring Dogehash Technologies, a North American mining firm focused on Scrypt assets such as Dogecoin and Litecoin. The acquisition will expand Thumzup’s mining capacity and rebrand the combined entity as Dogehash Technologies Holdings, Inc., listed under the ticker XDOG [4]. Dogehash currently operates 2,500 Scrypt ASIC miners and plans to significantly expand its fleet by the end of 2025 [5]. The move is part of a broader strategic pivot from digital marketing to industrial-scale crypto mining and treasury management, supported by a $50 million stock offering in July 2025 [5].

The acquisition underscores Dogecoin’s growing appeal as a mining asset due to its fast block times, low transaction fees, and non-halving issuance model. Unlike Bitcoin, Dogecoin’s predictable inflationary model supports stable miner economics, making it an attractive alternative for large-scale operations. The combined entity plans to leverage DogeOS layer-2 infrastructure to stake in DeFi products, aiming to enhance returns beyond base block rewards [5].

Market observers are closely watching whether DOGE can successfully break through the $0.29 resistance level, which could signal the start of a new upward trend. Analysts note that any further accumulation by large investors and institutional moves such as the Thumzup-Dogehash merger could reinforce bullish sentiment. However, the potential for a Qubic-led 51% attack remains a wildcard that could disrupt this trajectory [2].

Source:

[1] Dogecoin, Shiba Inu Drop 22% In A Month: What Is Going On? (https://finance.yahoo.com/news/dogecoin-shiba-inu-drop-22-133526150.html)

[2] DOGE Price Warning: 51% Attack Threat Triggers (https://www.coindesk.com/markets/2025/08/20/qubic-s-51-attack-plans-trigger-doge-crash-futures-open-interest-drops-8)

[3] Monero's 51% Attacker, Qubic, to Target DOGE Next (https://cointelegraph.com/news/qubic-monero-51percent-attacker-target-doge-next)

[4] Thumzup to Acquire Dogehash Technologies, Inc., a ... (https://www.prnewswire.com/news-releases/thumzup-to-acquire-dogehash-technologies-inc-a-leader-in-doge-digital-asset-mining-302533129.html)

[5] Thumzup to Acquire Dogehash Technologies, Inc., a ... (https://thumzupmedia.com/investor-relations/investor-news/news-details/2025/Thumzup-to-Acquire-Dogehash-Technologies-Inc--a-Leader-in-DOGE-Digital-Asset-Mining/default.aspx)

[6] Trump Family Expands Crypto Bets as Thumzup Pivots Into ... (https://www.coindesk.com/business/2025/08/20/trump-family-expands-crypto-bets-as-thumzup-pivots-into-dogecoin-mining)