Dogecoin News Today: Whales Dump 250M DOGE as Bears Clinch Control Below $0.21

Dogecoin (DOGE) is currently consolidating near the $0.21 support level as traders await a decisive move from the Ichimoku Kumo cloud. On the daily Ichimoku chart, a weak bearish Tenkan-sen/Kijun-sen cross above the cloud was observed on August 31, indicating short-term bearish momentum. However, the price remains within the cloud, which has historically acted as a zone of consolidation. Analysts highlight that a breakout above $0.23 could trigger a short-term rally, with potential resistance levels at $0.2431, $0.2596, and $0.2823. If the price fails to break above $0.23, it is likely to remain range-bound until a clearer directional bias emerges [1].

Volume data shows a significant surge in trading activity, with DOGE’s trading volumes increasing by 150% in recent days. This increase in volume was accompanied by a 10% monthly gain in August, outperforming Bitcoin’s decline of 6% during the same period. Derivatives markets also reflect heightened interest, with DOGE futures volumes rising 119% to $5.36 billion. However, open interest fell 4.7% to $3.24 billion, indicating a strategic reshuffling of positions rather than a definitive bullish move [4].

Technical indicators further highlight the tug of war between bulls and bears. On the daily chart, the Relative Strength Index (RSI) reads 46, below the neutral level of 50, reinforcing bearish momentum. Meanwhile, the 200-day EMA at $0.211 serves as a critical level for the price. A close below this level could extend the correction to $0.181, while a successful hold could push the price toward $0.247. The MACD also shows a bearish crossover, adding to the technical headwinds [3].

Analysts have offered diverging forecasts for DOGE’s near-term price action. Trader Tardigrade notes that the monthly Rate of Change (ROC) indicator remains flat, suggesting that the bull run for this cycle has not yet begun. Historical patterns show that prior rallies in 2017 and 2021 were preceded by sharp ROC spikes, a feature currently absent in the DOGE chart. The analyst also emphasizes the significance of the Ichimoku cloud, pointing out that the green cloud suggests a longer-term bullish bias, but the short-term trend remains bearish [1].

On the other hand, analyst DogeLord is more optimistic, predicting that a “propulsion candle” could signal a major breakout in September. A sustained close above $0.21 could fuel a rally to the $0.34 resistance zone, with further potential for a move toward all-time highs above $0.75. If the support at $0.21 fails, the price could drop to $0.17 and eventually test stronger support at $0.13. The next few weeks will be crucial in determining whether the bulls can convert leveraged positioning into a meaningful upward move [2].

In the derivatives market, the funding rate for DOGE turned negative, signaling that shorts are paying longs. This aligns with the bearish sentiment reflected in on-chain metrics, which show whale activity offloading large quantities of DOGE tokens since late August. Santiment’s data indicate that holders in the 100,000 to 10 million DOGE range have sold off 250 million tokens, further supporting the bearish outlook. The long-to-short ratio also shows an imbalance favoring short positions, reinforcing the risk of further downside [3].

Dogecoin’s market capitalization remains stable at approximately $32.88 billion, reflecting its continued relevance in the cryptocurrency market. The decentralized finance (DeFi) sector associated with DOGE has also seen growth, with total value locked (TVL) surpassing $20 million in 2025. This development indicates an increasing role for Dogecoin in the broader DeFi ecosystem, even amid volatility in its price [1].

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[1] Dogecoin Fluctuates Within Ichimoku Cloud as Analysts ... (https://intellectia.ai/news/crypto/dogecoin-trades-inside-ichimoku-cloud-as-analysts-note-weak-uptrend-but-price-below-kijunsen-limits-momentum)

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

[3] Dogecoin Price Forecast: DOGE struggles at 200-day EMA ... (https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-forecast-doge-struggles-at-200-day-ema-as-selling-pressure-builds-202509020342)

[4] Dogecoin Trading Volumes Surge 150% with $0.21 ... (https://holder.io/news/dogecoin-trading-surge-150-support-0-21/)