Dogecoin News Today: Dogecoin Holds Rising Support; Eyes $0.43 Breakout and $1.08 Target

Dogecoin has been forming a bullish weekly price structure, with the asset currently holding above a key rising support trendline that has been in place since 2023. This support level has repeatedly absorbed downward pressure, signaling accumulation from both retail and institutional investors [1]. Analysts note that the weekly chart has maintained a series of higher lows, reinforcing the integrity of the bullish pattern [1].

The technical outlook for Dogecoin is supported by Fibonacci extension levels drawn from the 2023–2024 price rally. These levels indicate immediate resistance at $0.43038 and a more ambitious target near $1.08453. A confirmed weekly close above $0.43 with increasing volume is seen as a key trigger for a potential breakout toward the $1 level [1]. The weekly candlestick pattern and volume behavior suggest strong buyer conviction, with each pullback finding support along the rising trendline [1].

According to technical analysts, the likelihood of Dogecoin reaching $1 in the coming months depends on several factors, including sustained momentum, a decisive weekly close above $0.43, and favorable market conditions. If these conditions are met, the price could move toward the $1.08 Fibonacci level. However, timing remains subject to broader macroeconomic liquidity and the strength of the wider cryptocurrency market [1].

Historically, Dogecoin has shown a tendency to accelerate after consolidation phases, particularly when volume spikes on breakout weeks. Traders are advised to monitor weekly volume spikes, higher-high weekly closes, and the retention of the rising support line as confirmation signals for a bullish continuation [1]. For risk management, analysts recommend using the rising support trendline and previous swing lows to define entry points and stops. A conservative approach is to wait for a weekly close above $0.43 with volume confirmation before entering a position [1].

The current structure also reflects a long-term trend of structural recovery for Dogecoin. After a sharp decline following the 2021 peak, the market entered a consolidation phase by 2023. The rising support trendline has since acted as a psychological and technical anchor, preventing further declines and facilitating a gradual recovery [1].

For long-term investors, the repeated higher lows and the stability of the support trendline are early indicators of potential strength. However, due to the asset’s volatility, investors are advised to set clear entries and stops aligned with the trendline to manage exposure effectively [1].

In summary, Dogecoin is currently trading within a bullish weekly structure defined by rising support and Fibonacci targets. A weekly close above $0.43 with increasing volume is the primary confirmation for a breakout toward the $1 level. Investors and traders should continue to monitor price action and volume for validated entries as the market moves forward [1].

Source:

[1] Dogecoin Could Target $1 After Holding Rising Support, With $0.43 and $1.08 Fibonacci Levels August 23, 2025. (https://en.coinotag.com/dogecoin-could-target-1-after-holding-rising-support-with-0-43-and-1-08-fibonacci-levels/)