The current trend of Dogecoin is similar to its performance in 2024, showing significant upward potential. The DOGE price chart has formed a rounded bottom and a converging triangle pattern, indicating that a breakout is imminent. If Dogecoin breaks through the key resistance level of $0.29, the price may replicate the previous surge from $0.18 to $0.49.
The current market environment and price trend support this optimistic expectation. If the pattern remains effective, Dogecoin is expected to reach $0.80 in the fourth quarter of 2025. Close attention should be paid to the $0.29 level to assess its subsequent trend.
Identify short-term trading opportunities for Dogecoin
The chart reveals the short-term trading potential of Dogecoin, indicating a risk-reward ratio (R/R) as high as 6.5. Dogecoin has recently broken through key highs and lows, suggesting that a price reversal may occur. The RSI indicator was previously in an oversold state and is now approaching the bullish zone, further strengthening the possibility of an upward trend.
Although it is advisable to hold positions with low leverage, the current pattern is very attractive to short-term traders. Volume and RSI will be key factors driving further price increases, providing investors with good entry opportunities.
Recent price movements and market sentiment of Dogecoin
As of August 21, 2025, the trading price of Dogecoin is $0.218, having risen 2.23% in the past 24 hours, with a total market capitalization of $32.88 billion and a 24-hour trading volume of $3.36 billion.
Currently, based on the cup and handle pattern, Dogecoin may be poised for a breakout. If the price breaks through the $0.30 mark, the upward trend may continue and could reach the current channel high of $0.38. The $0.19 to $0.20 range is an important support area, while $0.38 is a key resistance level. If market momentum continues, Dogecoin is expected to rise further in the short term.
