Dogecoin News Today: Dogecoin's Triangle Breakout Could Unlock $0.30—But Risks Lurk Below Support

Dogecoin (DOGE) trades at $0.21, maintaining a symmetrical triangle pattern between $0.211 and $0.233 on the 12-hour chart. Analysts suggest that a breakout above $0.233 with strong volume could drive the price toward $0.30, representing a potential 40% rally. The formation is viewed as a decisive technical zone, with key Fibonacci levels between $0.265 and $0.287 serving as intermediate targets. Should the $0.21 support level fail, a further decline toward $0.18–$0.19 is possible. Technical indicators like RSI and open interest signal weakening buying momentum, with long liquidations totaling $10 million over the past 24 hours. Analysts stress the need for confirmation in the form of a volume spike to validate the breakout's credibility.

Historical patterns suggest DOGE is in its third major accumulation phase, echoing bullish setups seen in 2017 and 2021. On-chain data reveals that large holders have accumulated 680 million DOGE in August, signaling continued whale interest despite short-term volatility. Whale activity contrasts with broader market concerns, including the Qubic blockchain community’s reported decision to direct hashpower at Dogecoin, raising fears of a potential 51% attack. Despite these risks, mining operations continue to expand. Thumzup Media Corporation, a Nasdaq-listed firm, announced plans to acquire Dogehash, a North American mining company focused on Scrypt assets like Dogecoin. The acquisition is expected to significantly increase Dogehash’s mining capacity and establish it as one of the largest Dogecoin mining platforms globally.

The broader crypto market remains under pressure, with Cardano overtaking Dogecoin in market capitalization and securing the eighth-largest position. However, DOGE’s performance is being closely watched for signs of reversal. A rounding bottom pattern and a converging triangle on the price chart suggest a potential retesting of previous resistance levels. Analysts reference a 2024 scenario where DOGE surged from $0.18 to $0.49 after breaking above key resistance, with similar setups pointing toward a potential $0.80 target in the fourth quarter. Additionally, the recent decline in open interest, which fell 4% to $3.23 billion, raises questions about market positioning. Traders are advised to monitor volume spikes and key price levels for further directional clues, as the outcome of the current triangle pattern could shape DOGE’s short- to medium-term trajectory.

Corporate developments and political dynamics are also influencing DOGE’s environment. Thumzup’s acquisition of Dogehash reflects growing institutional interest in scaling Dogecoin mining operations. The combined entity is projected to operate 2,500 ASIC miners, with plans to expand further by year-end. Meanwhile, the Trump administration's involvement in DOGE has drawn attention due to the inclusion of foreign contractors in key projects. Internal records show that a Uruguayan employee from X and two Canadian professionals with backgrounds at Airbnb are working on initiatives such as digitizing the federal retirement system. While federal laws limit permanent government roles to U.S. citizens, these foreign workers operate under contractor status, a practice that some administration officials find controversial, given the broader immigration stance of the administration.

Security concerns remain a significant factor. A whistleblower complaint from the Social Security Administration (SSA) alleges that Dogecoin staff copied and uploaded sensitive data—including names, social security numbers, and addresses—into a vulnerable cloud server. The SSA denied data breaches, asserting that all information is stored in secure, isolated environments. However, the incident underscores growing scrutiny over DOGE’s handling of sensitive government data. Legal counsel for the whistleblower has called for an independent audit to assess potential risks and prevent future violations. With ongoing investigations into data access and security protocols, the balance between operational efficiency and data protection is likely to remain a critical issue for the administration and its allies.

Looking ahead, DOGE’s next move will likely depend on its ability to break out of its current range with strong volume and positive catalysts. The Polymarket odds for a Dogecoin ETF approval stand at 75%, fueling optimism among investors. If the coin successfully navigates its current consolidation phase, it could rejoin the broader market upturn and gain traction alongside emerging altcoin movements. Traders and investors are advised to remain cautious, given the volatile nature of the crypto market and the uncertainties surrounding regulatory and security developments.

Source:

[1] DOGE News Today: Bullish Triangle Pattern Signals Potential 40% Rally Toward $0.30 (https://investinghaven.com/crypto-blockchain/coins/doge-news-today-bullish-triangle-pattern-signals-potential-40-rally-toward-030/)

[2] Rounding Bottom? DOGE Could Repeat 2024's Rally and Surge to $0.80 (https://cryptopotato.com/rounding-bottom-doge-could-repeat-2024s-rally-and-surge-to-0-80/)

[3] Dogecoin News Today | Latest DOGE Updates (https://www.bitget.com/price/dogecoin/news)

[4] The foreigners working for DOGE (https://www.politico.com/news/2025/08/26/the-foreigners-working-for-doge-00525792)

[5] Elon Musk's Doge put sensitive social security data at risk (https://www.theguardian.com/us-news/2025/aug/26/doge-social-security-elon-musk)