Hello everyone, friends in the crypto community! This article will take you deep into the recent price performance of Dogecoin (DOGE), especially the situation in July and the start of August. Speaking of DOGE, July's performance was exceptionally explosive, attracting a lot of attention; however, August has just begun, and the price has unfortunately fallen below the $0.2 mark, causing many retail investors to feel uneasy, worrying whether the bull market has lost its charm. Don't worry, I will tell you that although it has broken the key support, the technicals and historical data actually hide good opportunities for a rebound! At the same time, we must not overlook the fact that August has always been the month of the DOGE 'curse', so let us rationally view the risks and opportunities.

1. Behind the 'surge' in July, the August pullback is here

Let's first review how fierce the DOGE trend was in July: it surged by 27.1%, which is no small amount and is enough to fill many investors' pockets. At that time, both retail and institutional investors were overflowing with confidence, and many felt that this wave of momentum had just begun.

However, the start of August has not been friendly; the market sentiment has quietly shifted, and the DOGE price has started to adjust. As of now, it has dropped 5.31%, breaking the critical psychological level of $0.2. This is a significant blow for many, as $0.2 holds the meaning of a 'ballast stone' in the crypto market, and breaking below it means many are starting to watch and even panic.

So, the question arises: does this pullback mean the bull market for DOGE has ended? Will it continue to fall? Or is this pullback a good opportunity to buy the dip?

2. DOGE breaks key support; shorts are active, but bulls remain calm

Indeed, DOGE has currently broken below the key price level of $0.2, with a clear bearish attack, and market sentiment is slightly low. The bearish momentum comes from several aspects: the overall adjustment of the entire crypto market, seasonal factors, and investors starting to lock in profits.

However, it is worth noting that despite the price breaking important support, there are still many bullish voices in the market that have not disappeared. Many investors and institutional players still hold a positive outlook on DOGE's long-term potential, believing that this drop is merely a temporary pullback and a normal process of 'purging and renewing' within a healthy bull market.

In other words, although there is significant short-term bearish pressure, the bullish foundation has not collapsed, and the bullish camp still dominates the market. This 'drop but not break' situation lays the groundwork for interpreting our subsequent technical signals.

3. Detailed technical analysis: RSI oversold signal and 'Higher Low' structure

Now we enter the main event—technical analysis! Let me explain it in the simplest way possible:

What is RSI? RSI stands for 'Relative Strength Index', simply put, it's an indicator that helps us determine whether the market is 'overbought' or 'oversold'. The value ranges from 0 to 100, with values below 30 typically indicating the market is 'oversold' and above 70 indicating 'overbought'.

Currently, the 4-hour RSI for DOGE is about to drop below 30, entering the oversold territory. This is a very important signal because history tells us that when the RSI drops below 30 and the market is extremely pessimistic, it often indicates that the price is about to rebound.

Let's take a recent example: In June 2025, when DOGE's 4-hour RSI dropped below 30, the price subsequently surged over 70% within a month! Isn't that amazing? If history repeats itself, the probability of this rebound is quite high.

In addition to the RSI, there is another structure called 'Higher Low' in technical analysis. In this DOGE trend, a Higher Low structure is forming near $0.2, indicating that after the drop, the price did not fall lower but is actually higher than the previous low. This is a positive signal for bottoming, indicating that selling pressure is weakening and buying is starting to step in steadily.

These two technical signals combined give us a clear direction: DOGE is very likely to complete a bottoming formation near $0.2, preparing to start a new round of rebound.

4. Rebound targets vs. August 'curse': opportunities and risks coexist!

Since we're talking about rebounds, how high can the target price be? Based on the 70% surge in June, if this time it rises 70% from $0.2, DOGE is expected to reach around $0.34. For many investors, this could be a nice profit opportunity!

However, we must not forget the 'curse'—August has always been the toughest month for Dogecoin. Historical data from the past few years shows that the average decline in August is about 10%, and the risks cannot be ignored. This August has already dropped 5.31%, indicating that pressure remains, and the possibility of continued decline still exists.

This also reminds us that the cryptocurrency market is always a coexistence of opportunities and risks; we cannot only look at the shiny upward data. We must comprehensively consider technical signals and seasonal factors to make rational judgments and layout cautiously.

In summary, the short-term rebound potential for DOGE is promising, but the seasonal decline risk in August still exists. Friends who want to participate must manage their positions reasonably and set stop-loss orders to avoid being caught off guard by sudden risks.

5. Highlights and key indicators for DOGE in the coming weeks

In conclusion, although DOGE recently fell below the key support of $0.2, the technical indicators show signs of bottoming, and the RSI oversold signal may trigger a rebound, with a target price of around $0.34.

Of course, the seasonal risk in August still exists, and investors must closely monitor whether the price holds the $0.2 support, pay attention to the further changes of the RSI indicator, and the overall market sentiment.

The coming weeks will be a crucial period for DOGE's trend, determining whether it marks the beginning of a rebound or the continuation of a further decline. All answers lie in the market and technical indicators.

The cryptocurrency market is unpredictable; only calm, rational, and scientific analysis can help us find our own opportunities amid the fluctuations. I wish everyone can navigate the waves of DOGE and reach the shore safely!