Despite recent bearish pressure in the cryptocurrency market, Dogecoin (DOGE) is showing signs of recovery, holding above the important support level of $0.18.

After sliding below the $0.20 mark, DOGE continues to attract bullish speculation, especially as the price approaches the important RSI level on the 4-hour chart.

Cryptocurrency analyst KrissPax emphasizes that Dogecoin's RSI is nearing the level that triggered a 70% rally in June 2025. At that time, DOGE rose from $0.14 to over $0.24 in just one month.

With the current RSI trajectory closely matching previous patterns, traders are monitoring a similar bullish trend, this time likely pushing DOGE up to $0.34, especially as a higher low structure is forming.

Institutional accumulation drives optimism about Dogecoin.

As if adding fuel to the fire, large Dogecoin 'whales' have accumulated over 1 billion DOGE in just 48 hours, indicating growing confidence among institutional investors. Historically, such accumulation often precedes significant price movements.

Analysts are currently speculating that September could see DOGE break through the important resistance level of $0.50, with some even eyeing a long-term target of $1 if the bullish momentum is sustained.

Technically, DOGE is also forming a bullish wedge pattern, which, if confirmed, could pave the way for long-term bullish momentum. The coin is also trading within the historical accumulation range of $0.15–$0.22, a range that previously triggered exponential price increases.

Can Dogecoin (DOGE) exceed market expectations in Q3?

Although the meme coin sector has generally underperformed in this cycle, Dogecoin's technical configuration tells a different story.

According to previous posts by X analyst Trader Tardigrade, DOGE has completed two important bottoms in a classic reversal pattern, with the third bottom forming. If history repeats itself, this structure could herald another breakout.

Additionally, CoinCodex predicts that DOGE's price will increase by 16% at the beginning of September, targeting $0.24. With a neutral sentiment and the Fear & Greed Index at 64 (greed), the market appears ready for a recovery.

If DOGE can maintain support above $0.18 and continue its upward momentum according to the RSI as in the past, this meme coin could surprise investors with strong performance in Q3.