Dogecoin (DOGE) is currently priced at approximately $0.22189, with a daily trading volume exceeding $1.6 billion. The asset's price remains near the summer highs of this year, with a slight increase over the past week. It appears that the bottom for Dogecoin may have formed, with a long-term potential rise to between $0.90 and $1.50.
DOGE has been oscillating in the $0.15–$0.28 range since February, forming a more solid bottom structure than in 2024. If it successfully breaks through $0.221 and stabilizes, it may replicate the rapid rise in May 2021 (500% increase), with a mid-term target of $0.69 and a long-term outlook of $1.50.
The next round of increases will not be a minor affair. Based on the current larger bottom structure, Dogecoin is expected to challenge $0.69 and may even replicate the miracle of a 500% surge in May 2021.
Short-term outlook (24 hours)
On August 8, if trading volume does not increase significantly, Dogecoin's price is expected to fluctuate between $0.22 and $0.23. Once the price successfully breaks through $0.23, accompanied by sufficient momentum, it may reopen the upward path, with the initial target possibly reaching $0.26, followed by $0.28 (super trend resistance level).
Market sentiment is quietly shifting; how should retail investors respond?
The overall cryptocurrency market is currently in a state of stagnation, neither rising nor falling, but Dogecoin's unusual fluctuations have caught the attention of institutions. In the past week, DOGE's inflow of funds increased by 40%, with large holders' positions rising to 15%.
For retail investors, the three-thirds strategy may be a powerful tool; always believe that opportunities are reserved for those who are prepared.
