Dogecoin News Today: September Could Be Dogecoin's Propulsion Moment—With $2 in Sight

Dogecoin is attracting renewed attention in the cryptocurrency market as bullish momentum builds ahead of a potential September breakout. Recent price action saw Dogecoin (DOGE) close August at $0.21, marking a 10% gain for the month despite broader crypto market corrections. The token’s futures volumes surged 119% to $5.36 billion in August, while open interest declined 4.7% to $3.24 billion, suggesting strategic reshuffling among traders. Notably, bull traders closed $7.61 million in long contracts compared to only $2.41 million in shorts, signaling a shift in market positioning. Short-term leveraged positions are heavily concentrated at the $0.21 support level, where bulls have deployed $42 million in longs over the past week. Maintaining this level could provide the catalyst for a significant upward move.

Analysts remain cautiously optimistic about DOGE’s potential in the coming months. Prominent market analyst DogeLord, with 12,500 followers, has suggested that a “propulsion candle” may appear in September, potentially marking a breakout month for the token. If DOGE sustains its position above $0.21, it could rally toward the $0.34 resistance zone and eventually retest all-time highs near $0.75. Long-term projections from the analyst suggest a possible 850% return from current price levels, which would see DOGE reach over $2. However, a breakdown below $0.21 could expose the token to further downward risk toward $0.17, with stronger support at $0.13. Traders are closely watching whether bullish positioning can convert into a sustained breakout or if short sellers will push for further corrections.

The broader Dogecoin ecosystem is also evolving with the involvement of key players. Elon Musk’s personal lawyer, Alex Spiro, is reportedly set to chair a newly formed $200 million Dogecoin treasury company backed by House of Doge, the official corporate entity of the memecoin. The company, headquartered in Miami, aims to legitimize and promote the project as part of a growing trend in crypto treasury plays. This initiative mirrors the strategy employed by MicroStrategy, which gained significant market traction by adding Bitcoin to its corporate balance sheet. The structure of the Dogecoin treasury company remains confidential, but it represents a strategic step toward institutional recognition and increased market confidence.

Musk’s influence on Dogecoin has been a defining feature of the token’s history, with the billionaire frequently referencing the coin on social media and sparking price surges. In August 2024, Spiro helped dismiss a lawsuit accusing Musk of manipulating Dogecoin’s price through his social media activity. The dismissal was celebrated as a positive development for the token, with Spiro calling it “a very good day for Dogecoin.” The legal clarity provided by the court’s decision has likely bolstered investor confidence in the long-term prospects of the project.

Looking ahead, Dogecoin’s price trajectory will depend heavily on sustained retail and institutional interest. The token’s unique positioning as a meme-driven asset continues to generate speculative trading, especially as it gains traction among social media communities and high-profile investors. With the market entering a critical phase in the coming weeks, analysts are closely monitoring whether DOGE can solidify its support at $0.21 and transition into a bullish trend that aligns with the projected 850% rally. For now, the focus remains on whether the token can maintain its momentum and avoid a prolonged bearish correction, especially as traders remain positioned at key levels.

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] MAGACOIN FINANCE Catches Investor Attention as ... (https://www.morningstar.com/news/globe-newswire/9519720/magacoin-finance-catches-investor-attention-as-bitcoin-alternative-presale-to-enter-final-stages)

[4] Best Crypto Presale 2025: MAGACOIN FINANCE Attracts ... (https://coindoo.com/best-crypto-presale-2025-magacoin-finance-attracts-13k-investors-as-shib-whales-pile-in/)

[5] Dogecoin Price Prediction: Can DOGE Reach $1? (https://cryptodnes.bg/en/dogecoin-price-prediction-can-doge-reach-1/)