The price hovers around $0.176

Today around $0.171 after briefly rising above $0.175 earlier this week. While the overall structure remains compressed, Dogecoin has surpassed its support level at $0.16 with a strong impulsive move but now faces significant upper resistance near $0.175-$0.180. The next 24-48 hours could be crucial for the price direction.

What is happening to the price of Dogecoin?

DOGE Price Forecast

The price of DOGE has risen by over 5% from its lowest level on July 3 at $0.162, with bulls attempting to regain some momentum above the key trend lines. On the four-hour chart, Dogecoin broke through a descending wedge pattern and is now settling just below the upper Bollinger range at $0.174, while the middle range support level stands at $0.1665.

The corresponding SAR indicator points have flipped below the price action, confirming a short-term bullish trend.

DOGE Price Forecast

From a Smart Money Concepts (SMC) perspective, Dogecoin has maintained its structure above the latest Bank of America (BOS) level near $0.158, and is now retesting the previous CHo,CH area between $0.170 and $0.175. The price is trading within a tight liquidity range, indicating that bulls are cautiously trying to absorb supply near a historical resistance range.

Why is the price of DOGE rising today?

DOGE Derivative Analysis

The recent rise in the price of Dogecoin today is largely attributed to increasing momentum in the derivatives market. According to CoinGlass data, Dogecoin trading volume rose by 275% to $4.98 billion over the past 24 hours, with open interest increasing by about 8%. The long/short trading ratio among top Binance traders is 2.74, while the overall buying bias across exchanges exceeds 2.0, reflecting strong positive expectations.

DOGE Price Forecast

On the 30-minute chart, the Relative Strength Index (RSI) is retreating from the overbought area, now settling at 45.2, indicating a slowdown in price movement, not a complete reversal. The MACD on the same timeframe shows a weak bullish crossover, with the vertical histogram shrinking, suggesting consolidation after a sharp rise from levels below $0.165.

DOGE Price Forecast

The DMI indicator on the four-hour chart shows a bullish ADX structure, with the +DI indicator advancing and rising. At the same time, the Supertrend indicator has flipped to a bullish trend around $0.1627, with DOGE trading significantly above this level since breaking out on July 4.

DOGE Stock Price: Bollinger Bands and VWAP indicators suggest a short-term breakout pressure.

DOGE Price Forecast

Bollinger Bands are expanding on the four-hour chart after previous compression. DOGE briefly set its upper range near $0.176 before retreating toward the midpoint. This classic volatility breakout pattern indicates that the next move could be significant if trading volume continues. The 20/50/100/200 exponential moving averages are now converging between $0.1668 and $0.1734. This pressure on the exponential moving average indicates a potential increase in volatility breakout.

DOGE Price Forecast

On the 30-minute chart, the price is trading slightly below the weighted average price (VWAP) ($0.175), and the SAR indicator points are again above the price, suggesting some pullback during the day. However, unless DOGE breaks through the range of $0.166-$0.168, the structure will remain favorable for buyers.

DOGE Price Forecast

Long-term trend lines on the daily chart also show that Dogecoin is testing a descending resistance line around $0.175 - breaking through this area could open the door for upward momentum towards levels of $0.19-$0.20, where previous liquidity exists.

Dogecoin Price Forecast: Short-term Forecast (24 Hours)

The price of Dogecoin remains compressed within a short-term ascending channel, approaching a decision point around $0.175. If bulls manage to reclaim this area with high trading volume and close above it, the next target would be $0.185 and then $0.198.

On the downside, if rejection continues, immediate support is expected at $0.166, with a deeper pullback opening the door for $0.158 - which was the last BOS area on the daily SMC structure.

With derivative data showing a significant long-term divergence and super trend indicators and exponential moving averages turning positive, momentum appears cautiously tilted in favor of bulls. However, Dogecoin needs to decisively break above $0.175 to confirm the breakout.

Dogecoin Price Forecast Table: July 8, 2025

#TrumpTariffs #MuskAmericaParty #SpotVSFuturesStrategy #OneBigBeautifulBill