In our last DOGE weekly prediction, we looked at three possible paths for the week ahead. We had three outcomes on the table. If DOGE broke $0.085, it could hit $0.10. If it stayed stuck, it
In our last DOGE weekly prediction, we looked at three possible paths for the week ahead. We had three outcomes on the table. If DOGE broke $0.085, it could hit $0.10. If it stayed stuck, it would chop between $0.08 and $0.085. And if it fell below $0.08, $0.075 was next.
Buyers won. DOGE ran from $0.075 to $0.10, then cooled to $0.0923. But it’s still holding above those old ceiling levels. That keeps things looking decent. The big one is $0.10 now. Clear that and hold, and $0.11 comes into view. If DOGE drops under $0.09, $0.08 becomes the floor again.
I analyzed the DOGE chart and for weeks the price just sat there, bouncing between $0.065 and $0.075. Nothing exciting. Just range-bound action. Then August 19 hit. Buyers came in hard and pushed DOGE straight through $0.08 and $0.085 like they weren’t even there. In just a few days, it ran all the way to almost $0.10.
Source: TradingViewAfter a move that fast, a pullback was bound to happen. And sure enough, DOGE cooled off to around $0.0923. But here’s the thing, it’s still sitting well above the breakout zone. That’s usually a good sign after a strong rally.
The volume behind the move is also worth noting. Trading activity during the breakout was much higher than anything recorded during the consolidation period. That points to strong market participation and confirms that buyers were willing to commit capital as the breakout unfolded.
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Beyond the charts, Dogecoin is getting support from a few important developments. Spot Dogecoin ETFs from issuers including 21Shares, Grayscale, and Bitwise recorded net inflows of $654,416 on August 22. Although total ETF assets remain relatively small at about $12.5 million, the inflows show that institutional interest has not disappeared.
On-chain data also points to strong support around lower levels. Data shared by Ali Charts identified roughly 30 billion DOGE transacted around the $0.081 price zone. That makes it one of the largest cost-basis clusters on the network and an area many holders may be willing to defend.
There’s a proposal floating around the Dogecoin community right now that’s got people talking. The proposal would slash Dogecoin’s annual issuance from 5 billion to about 500 million coins. The mechanism is simple, drop block rewards from 10,000 DOGE to 1,000 DOGE.
Nothing is finalized yet. It’s still being debated. But if it passes, it would tighten the supply of new DOGE entering circulation. And anytime you talk about reducing supply, the market pays attention.
As long as the DOGE price holds above $0.09, things look okay. If buyers stay in charge, a run back to $0.10 is likely. Get past that, and $0.11 comes into view, with more room above if momentum keeps up.
If $0.09 fails, the next area to watch is around $0.08, which previously acted as resistance before the breakout. For now, the combination of strong volume, ETF inflows, and whale accumulation gives bulls a solid foundation. The next few trading sessions should reveal whether the DOGE price is ready for another run at $0.10 or needs more time to consolidate.
Spot Dogecoin ETFs recorded net inflows of about $654,000 on August 22. Although total ETF assets remain relatively small, continued inflows could increase demand and provide additional support for the DOGE price.
Is Dogecoin overbought right nowMomentum indicators show the market is approaching overbought conditions. The RSI is near 68, which means the rally has been strong, but it also increases the chances of consolidation before the next move higher.
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The post How High Can Dogecoin (DOGE) Price Go This Week? appeared first on CaptainAltcoin.
