Dogecoin News Today: Why Dogecoin Could Soar 850% If Bulls Hold $0.21 Support

Dogecoin's recent price movements have sparked renewed interest among traders and analysts. After closing August at $0.21, the meme coin experienced a 10% monthly gain, outpacing Bitcoin's 6% decline during the same period. This upward momentum was accompanied by a 150% surge in trading volumes, reflecting a significant increase in market participation. Derivative data from Coinglass indicates that DOGE futures volumes rose 119% to $5.36 billion, though open interest fell 4.7% to $3.24 billion. This suggests a strategic reshuffling of positions, particularly from bullish traders who closed $7.61 million in long contracts compared with only $2.41 million in shorts. The short-sellers, however, maintained dominance in leveraged exposure, with $262 million in short positions overshadowing $172 million in long exposure [1].

A key level of interest has emerged at $0.21, where bull traders have deployed $42 million in longs over the past week. Analysts view this level as critical support, especially in light of Bitcoin's broader market corrections in late August. If DOGE sustains this base, it could generate the momentum necessary for a decisive upward move. A prominent market analyst, DogeLord, has forecasted a potential 850% price rally for Dogecoin if it breaks above $0.21. He anticipates a move toward $0.34 resistance and potentially even the all-time highs above $2. On the downside, failure to maintain the $0.21 support could expose DOGE to a decline toward $0.17, with stronger support expected at $0.13 [1].

Adding to the narrative, a $200 million Dogecoin treasury company is in the works, led by Elon Musk's personal lawyer, Alex Spiro, who will serve as chairman. The initiative, backed by the official corporate entity House of Doge, aims to invest in Dogecoin and enhance its legitimacy as a long-term asset class. This structure mirrors the successful crypto treasury model pioneered by companies like MicroStrategy, which saw its market capitalization soar after acquiring Bitcoin. The Dogecoin treasury company’s launch remains unconfirmed, but its potential could attract institutional and retail investors seeking exposure to the memecoin. Spiro’s involvement further underscores the legal and strategic depth of the project, following his recent success in dismissing a lawsuit accusing Musk of market manipulation through Dogecoin-related posts [2].

In parallel, emerging projects like Remittix are gaining attention for their real-world utility. Unlike speculative or meme-based tokens, Remittix focuses on cross-border payments, aiming to serve a $19 trillion global market. The platform has raised over $23 million in its presale and recently listed on exchanges like BitMart and LBANK. Its beta wallet, slated for Q3, will enable instant crypto-to-bank transfers in 30+ countries, processing 40+ cryptocurrencies and 30+ fiat currencies. With a deflationary token model and a $250,000 community giveaway, the project is positioning itself as a practical solution for international transactions [3].

While Solana and Ripple maintain substantial market caps of $110.15 billion and $168.49 billion, respectively, they face challenges related to liquidity and active interest. Remittix’s infrastructure-driven approach, combined with growing adoption and strategic exchange listings, could position it as a more impactful player in the crypto space. The project’s emphasis on real-world utility, regulatory compliance, and user-friendly design distinguishes it from larger, more speculative projects. Analysts suggest that Remittix’s cross-border payment model offers tangible advantages for both individuals and businesses, potentially capturing a significant portion of the global payments market [3].

Dogecoin’s future, meanwhile, remains closely tied to its price performance and institutional adoption. With a high concentration of leverage at $0.21 and a treasury-backed initiative in development, the coming weeks will be critical in determining whether bulls can capitalize on their positions or if short sellers will continue to dictate the coin’s trajectory. The broader cryptocurrency market will be watching closely, particularly as the line between speculation and utility continues to blur [1].

Source:

[1] Dogecoin Analyst Forecasts 850% Price Rally in September ... (https://finance.yahoo.com/news/dogecoin-analyst-forecasts-850-price-214254850.html)

[2] Elon Musk's lawyer Alex Spiro set to chair $200 million ... (https://fortune.com/crypto/2025/08/29/elon-musk-alex-spiro-dogecoin-house-of-doge-crypto-treasury-company/)

[3] Remittix Has More Potential Than Solana And Ripple In ... (https://www.mitrade.com/insights/news/live-news/article-3-1085088-20250901)