TLDR
- Dogecoin has reclaimed the $0.22 price level after a period of volatility
- Institutional wallets absorbed over 680 million DOGE throughout August
- Elon Musk’s attorney Alex Spiro is set to chair a new $200 million Dogecoin treasury company
- Technical analysis shows consolidation between $0.21 and $0.23, suggesting a compression phase
- Several companies including Neptune Digital Assets and Bit Origin have added Dogecoin to treasury holdings
Dogecoin has reclaimed the $0.22 price level after experiencing weeks of turbulence in the cryptocurrency market. This recovery has sparked renewed optimism among traders who are watching for signs of the next potential breakout.
The meme-inspired cryptocurrency faced sharp volatility in late August as whale transfers shook market confidence. Despite these challenges, strong network fundamentals and sustained accumulation from larger investors suggest that Dogecoin may be preparing for a more decisive move as September begins.
On-chain metrics reveal that institutional wallets absorbed more than 680 million DOGE throughout August. Market analysts suggest this “smart money” activity could lay the groundwork for another expansion phase in Dogecoin’s price action.
Dogecoin has been quietly constructing a large accumulation base, with breakout attempts supported by rising trading volume. This pattern points to participation from bigger market players rather than short-term retail speculation.
This activity aligns with historical Dogecoin price patterns, where long stretches of consolidation preceded explosive upward moves. During its last major rally, the price of Dogecoin surged to an all-time high of $0.79.
Treasury Plans Boost Market Confidence
In a major development, Elon Musk’s attorney Alex Spiro is set to chair a new public company designed to raise $200 million for Dogecoin investments. The initiative comes with backing from House of Doge, the corporate entity launched by the Dogecoin Foundation in early 2025.
Elon Musk’s lawyer Alex Spiro set to chair $200 million Dogecoin treasury – Fortunehttps://t.co/Jgkl5gWZgN
— Dogecoin (@dogecoin) August 29, 2025
The proposed company would function as a treasury vehicle, holding Dogecoin on its balance sheet and giving investors stock market exposure to the token without requiring direct ownership. Six people familiar with the deal confirmed these details to Fortune, though the effort remains in the pitch stage with no disclosed timeline or final structure details.
Spiro works as a partner at Quinn Emanuel Urquhart and Sullivan and has represented high-profile clients including Elon Musk, Jay-Z, and Alec Baldwin.
This year has seen multiple publicly traded companies rebrand as crypto treasury vehicles. These companies raise funds specifically to buy and hold digital assets on their balance sheets.
Vancouver-based Neptune Digital Assets bought 1 million Dogecoin in February 2025, paying an average price of $0.37 per token through a strategic derivative purchase.
Nasdaq-listed Bit Origin announced in July that it secured up to $500 million in financing to build its DOGE treasury. This made it the first US-traded company to openly plan Dogecoin as its core balance sheet asset.
Tesla also holds undisclosed amounts of Dogecoin. The electric car company began accepting DOGE for select merchandise purchases in early 2022.
Technical Analysis Points to Potential Breakout
From a technical perspective, Dogecoin’s chart shows consolidation between $0.21 and $0.23. This narrow trading range often signals a compression phase before a decisive price movement.
Support at $0.21 remains the critical floor. A breakdown could expose $0.20 as the next defense level for Dogecoin bulls.
Resistance at $0.23 continues to cap upward momentum, with a breakout potentially unlocking targets at $0.25-$0.30 in the near term.
The Relative Strength Index (RSI) sits in the mid-40s to 50s, suggesting room for upside without overbought conditions. Meanwhile, MACD signals remain neutral to slightly bearish as traders monitor whale activity closely.
DOGE has formed a double bottom pattern within an ascending triangle structure. This combination typically signals momentum shifting toward buyers, with DOGE recently breaking above its EMA ribbon to confirm the pattern.
The $0.245-$0.27 zone represents critical resistance that has previously rejected price advances. This area serves as a key test for bulls in the coming weeks.
Looking ahead, market watchers suggest that September could be pivotal for Dogecoin’s price action. If DOGE maintains support above $0.21 and breaks the $0.23 barrier, momentum could accelerate toward the $0.30 level.
For now, Dogecoin is trading at around $0.22, up 0.44% in the last 24 hours at press time, showing resilience despite recent market turbulence.
The meme coin continues to capture attention beyond speculation. Search interest around “how to buy Dogecoin” and “should I buy Dogecoin” has been ticking up, reflecting renewed curiosity from retail investors.
At the current price of $0.22, Dogecoin is showing signs of stability as institutional interest and treasury developments provide fundamental support for the technical setup.
The post Dogecoin (DOGE) Price: Technical Patterns Show Consolidation Between $0.21-$0.23 appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.