Dogecoin (DOGE) Price: Trading at $0.21 as Analysts Track Multiple Bullish Patterns Maisie Morrison | usagoldmines.com

Dogecoin has entered a consolidation phase in August 2025, with the popular meme cryptocurrency showing several technical patterns that have traders watching closely. Currently trading at $0.21, DOGE has gained 2.3% in the last 24 hours, though it remains down 4.4% over the past week and 17% over the last month.

Technical analysts have identified multiple chart formations that suggest DOGE could be preparing for a significant move upward if certain conditions are met.

Analyst Zeinab points to a rounding bottom formation in DOGE’s recent price action. This pattern often develops before new uptrends begin and is considered a bullish signal by many chart watchers.

$DOGE is showing a pattern similar to 2024. It’s forming a rounding bottom & if it breaks $0.29, it could rally like last time from $0.18 to $0.49.

A converging triangle is also forming, which means a breakout might be coming.

If the pattern repeats, we could reach $0.80 in Q4. pic.twitter.com/ZhUQ8LRyGf

— Crypto Zeinab (@CryptoZeinab) August 20, 2025

The same analyst notes that DOGE is moving within a converging triangle pattern. Triangles typically signal decreasing volatility before a breakout occurs in either direction, with the direction often continuing the previous trend.

According to Zeinab’s analysis, the next major resistance level for DOGE sits near $0.29. A clear move above this level could mirror an earlier climb when the token advanced from around $0.18 to $0.49.

In an even more optimistic scenario, she suggests DOGE could target levels near $0.80 by the final quarter of 2025 if momentum extends further after breaking resistance.

Traders are monitoring the $0.29 level closely as this zone has acted as the primary ceiling for the current trend. Until DOGE breaks above that point, the bullish setup remains unconfirmed.

Trading Setup Shows Favorable Risk-Reward

Volume trends appear to support the bullish view, with data showing steady buying interest in recent weeks. However, liquidity remains below levels recorded during previous rallies, suggesting that a sharp increase in trading activity would be needed to validate the bullish scenario.

Analyst Cryptoinsightuk has identified a separate opportunity for shorter-term traders. He notes that DOGE has swept both recent highs and lows, clearing stop orders on both sides of the market – often a prelude to reversal.

A lot of crypto setting up similarly here.

Take $DOGE for example.

Highs swept.

Lows swept.

Now decent 4HR volume and potential to see RSI cross bullish from near oversold levels.

This offers a nice 6.5 R/R ST trade set up.

NB I am not taking this trade, I’m already in a… https://t.co/rlYFrVopqJ pic.twitter.com/eByVjZIKo6

— Cryptoinsightuk (@Cryptoinsightuk) August 20, 2025

He calculates a risk-to-reward ratio of 6.5 for this setup, which is considered highly attractive as ratios above 5 generally indicate potential returns far outweighing the risk.

The Relative Strength Index (RSI), a momentum indicator that measures the strength of price moves on a scale from 0 to 100, has turned upward after reaching oversold territory. At the time of writing, the RSI is approaching the midpoint, signaling improving momentum for DOGE.

Cryptoinsightuk maintains a low-leverage swing position in DOGE but argues the technical setup is particularly relevant for traders seeking shorter-term entries.

Volume analysis also supports this thesis, with the combination of rising RSI and steady turnover increasing the odds of another test of the $0.29 level. If DOGE fails to clear that zone, downside risk remains toward the $0.20 support band.

Price Targets and Market Structure

At press time, Dogecoin’s market capitalization stands at about $33 billion, with trading volume close to $3.4 billion. The all-time high remains at $0.7375, meaning DOGE would need to more than triple from current levels to reach a new record.

Analyst Andrew Griffiths has identified a cup-and-handle formation in DOGE’s chart, which appears as a rounded base followed by a smaller pullback. This pattern often precedes breakouts and adds to the bullish case.

Griffiths suggests that a confirmed move above $0.30 could push DOGE toward the upper channel boundary. He identifies support between $0.19 and $0.20 as the critical floor.

If DOGE holds this area, his model points to resistance near $0.38 as the next target, with $0.48 representing a previous high that would need to be reclaimed before any potential run at all-time highs.

Trader @Altsteinn echoes similar sentiments, noting that staying above $0.21 is critical for DOGE’s next move. His analysis suggests that holding this level makes $0.30 a realistic target.

The $0.16-$0.17 area has become DOGE’s safety net, catching every dip and sending buyers rushing back in. This kind of price behavior often precedes larger moves in the cryptocurrency market.

The alignment of multiple technical signals – rounding bottom, triangle, and cup-and-handle – has led analysts to track DOGE closely as momentum indicators and volume will determine whether the token can advance toward higher levels in the final quarter of 2025.