- Dogecoin holds above $0.23 after bouncing from strong support at $0.21–$0.22.
- Bullish pennant breakout points to a short-term target of $0.275.
- REX-Osprey DOGE ETF launch fuels institutional and retail interest.
- Resistance levels to watch: $0.25 and $0.29, with potential upside toward $0.50 if momentum continues.
DOGE Pushes Higher After Holding Key Level
Dogecoin (DOGE) has regained bullish momentum after defending support at the $0.21–$0.22 zone. The memecoin is currently trading around $0.24, holding steady above the $0.23 mark that has now flipped into support.
Trading volume in the past 24 hours has surged above $3.39 billion, highlighting renewed investor activity. While price action is slightly lower compared to the previous day, DOGE has still gained over 11% in the past week, underscoring growing market strength.
Technical Signals Suggest More Upside
On shorter timeframes, technical setups show a strong bullish structure. The 4-hour chart indicates that Dogecoin is consolidating just under $0.24, with buyers eyeing a move toward $0.25.
Also Read: Dogecoin’s (DOGE) Path to a Potential Price Surge: Whale Activity and Technical Analysis
A 2-hour chart shared by Trader Tardigrade highlights a bullish pennant breakout, which emerged after DOGE’s rally from $0.21 to $0.24. This pattern points to a near-term price target of $0.275.
“Dogecoin is breaking out of a LTF Bullish Pennant, targeting $0.275,”
— Trader Tardigrade
If DOGE maintains support above $0.24, the bullish target remains achievable in the short term.
Dogecoin ETF Launch Draws Investor Attention
Adding to Dogecoin’s momentum, the REX-Osprey DOGE ETF (ticker: DOJE) is set to launch on September 11. This marks the first U.S. ETF tracking an asset with no declared utility, positioning DOGE in the spotlight for both retail and institutional investors.
Bloomberg ETF analyst Eric Balchunas confirmed the ETF will launch without leverage, entering the market while over 30 other crypto ETF applications remain under review by U.S. regulators.
Meanwhile, Santiment data shows a sharp rise in Dogecoin’s social mentions and dominance following the ETF announcement, further boosting community-driven enthusiasm.
Traders Eye Resistance Levels at $0.25 and $0.29
The next key resistance level sits at $0.25, with a breakout above it potentially paving the way toward $0.29.
Well-known crypto analyst Ali Martinez added further optimism:
“Dogecoin next move: break $0.29 and we could be looking at a run to $0.50.”
While $0.50 is not an immediate target, the short-term outlook remains bullish as long as DOGE sustains above $0.23.
Can Dogecoin Rally Into Double Digits?
With strong technical signals, heightened trading activity, and the ETF launch as a catalyst, Dogecoin is well-positioned for continued upside. However, sustained momentum depends on whether DOGE can hold above $0.23 and break past $0.25 in the coming sessions.
If these levels are cleared, the much-anticipated $0.275 and $0.29 targets may soon come into play, keeping hopes of a larger rally alive.