Despite recent bearish pressure in the cryptocurrency market, Dogecoin (DOGE) is still showing signs of recovery, maintaining above the critical support level of $0.18.
After falling below the $0.20 threshold, DOGE continues to attract bullish speculation, especially as it approaches key RSI levels on the 4-hour chart.
Cryptocurrency analyst KrissPax emphasizes that Dogecoin's RSI is approaching the level that triggered a 70% rise in June 2025. At that time, Dogecoin surged from $0.14 to over $0.24 within a month.
As the current RSI trajectory closely aligns with past patterns, traders are watching for similar upward trends that could push DOGE to $0.34, especially in the context of its higher low structure forming.
Institutional buying fuels optimism for Dogecoin
What makes it worse is that the Dogecoin giant has accumulated over 1 billion DOGE in just 48 hours, indicating that institutional investors' confidence is strengthening. Historically, such accumulation usually precedes significant price fluctuations.
Analysts are now speculating that DOGE may breach the key resistance level of $0.50 in September, and if the bullish momentum continues, some even set long-term targets at $1.
From a technical standpoint, Dogecoin is also forming a bullish megaphone pattern, which, if confirmed, could pave the way for further increases. Currently, the trading price of this cryptocurrency is within the historical accumulation range of $0.15 to $0.22, which has previously triggered exponential rises.
Can Dogecoin (DOGE) exceed market expectations in the third quarter?
Despite the broader meme coin sector performing poorly in this cycle, Dogecoin's technical setup tells a different story.
According to X analyst Trader Tardigrade's previous posts, Dogecoin has completed two important bottoms in a classic reversal pattern, and a third bottom is forming. If history repeats itself, this structure may signal another breakthrough.
Additionally, CoinCodex predicts that DOGE's price will rise 16% by early September, targeting a price level of $0.24. Market sentiment is neutral, with the fear and greed index at 64 (greed), indicating that the market seems to be set for a rebound.
If DOGE can maintain above the support level of $0.18 and continue the historically RSI-driven upward momentum, this meme coin could surprise investors with a strong performance in the third quarter.
