Dogecoin News Today: Dogecoin Nears $0.29 Resistance Amid Bullish Chart Patterns and Rising Volume

Dogecoin’s price is nearing a critical resistance level of $0.29, drawing increased attention from analysts who are closely monitoring technical formations and volume dynamics for signs of a potential breakout [1]. The token has been consolidating within a narrowing range in August 2025, forming key chart patterns such as a rounding bottom and a converging triangle—both often indicative of an upcoming upward move [2]. Analyst Zeinab noted that a confirmed break above $0.29 would resemble a previous rally from $0.18 to $0.49 and could set the stage for a move toward $0.80 in the final quarter of 2025 [3].

The current consolidation phase suggests that traders are waiting for a clear breakout signal before committing to larger positions. A cup-and-handle pattern has also emerged, a bullish continuation pattern that further supports the case for higher prices. If Dogecoin can sustain trading above $0.29, the next level of resistance is estimated near $0.38, according to Andrew Griffiths [4]. However, the $0.19–$0.20 support zone remains crucial, and a failure to hold above this range could trigger a pullback.

Technical indicators also suggest improving momentum. The Relative Strength Index (RSI) has turned upward after entering oversold territory, signaling the potential for a price recovery. Analyst Cryptoinsightuk identified a favorable risk-to-reward ratio of 6.5 for short-term traders, which is considered highly attractive in the current market [5]. He also emphasized that rising RSI levels combined with steady volume increase the likelihood of another test at $0.29.

Volume trends further support the bullish scenario, with steady buying interest observed over the past few weeks. However, liquidity remains lower than during previous rallies, suggesting caution is still warranted. Whale accumulation has also played a role in the recent V-shaped recovery, with DOGE rebounding from $0.21 to $0.22 during a surge in trading volume [6]. Institutional or high-net-worth investors continue to build positions, which could provide additional support for further upward movement.

At press time, Dogecoin traded around $0.21, up 2.3% in the past 24 hours, despite a 4.4% decline over the past week and a 17% drop from its monthly high. The token’s market capitalization stood at approximately $33 billion, with a 24-hour trading volume near $3.4 billion.

Analysts remain divided on whether a breakout is imminent. While multiple technical signals—including rounding bottom, triangle, and cup-and-handle patterns—align in favor of an upward move, sustained volume and price action above key resistance levels will be necessary to confirm the bullish thesis. Traders are advised to monitor the $0.29 and $0.26 levels closely, as a breakout above these points could attract renewed interest from both retail and institutional investors [7].

Source:

[1] Dogecoin Bull Run Over? Don't Bet Against This Chart (https://www.newsbtc.com/news/dogecoin/dogecoin-bull-run-over-dont-bet-against-this-chart/)

[2] Whale Accumulation Drives Dogecoin's V-Shaped Recovery (https://www.coindesk.com/markets/2025/08/21/whale-accumulation-drives-dogecoin-s-v-shaped-recovery-from-usd0-21-lows)

[3] Dogecoin Price Nears Key Resistance As Analysts Track Breakout Signals (https://coinmarketcap.com/community/articles/68a7a86ccb9a1023ccf15bdd/)

[4] Dogecoin (DOGE) Daily Fractals: @TATrader_Alan Shares (https://blockchain.news/flashnews/dogecoin-doge-daily-fractals-tatrader-alan-shares-chart-for-traders-tracking-pattern-repetition)

[5] Shiba Inu And Dogecoin Show Signs Of Weakness As (https://www.barchart.com/story/news/34306026/shiba-inu-and-dogecoin-show-signs-of-weakness-as-payfi-altcoin-remittix-becomes-the-top-trending-token)

[6] Decoding Crypto Volatility: The Role of Smaller Altcoins in (https://www.ainvest.com/news/decoding-crypto-volatility-role-smaller-altcoins-bearish-bitcoin-environment-2508/)

[7] Doge Fear and Greed Index | Multiple Timeframes (https://cfgi.io/doge-fear-greed-index/)