Dogecoin Price Forecast: Triangle Pattern Hints at $0.22 Breakout

Dogecoin (DOGE) is back in the spotlight, trading at $0.205 after a 2.3% daily gain. With a $31 billion market cap and $1.2 billion

Written by: Arslan Butt • Thursday, August 7, 2025 • 1 min read

• Last updated: Thursday, August 7, 2025

Quick overview

Dogecoin (DOGE) is currently trading at $0.205, showing a 2.3% daily gain and a market cap of $31 billion.
A symmetrical triangle pattern suggests a potential breakout is imminent, with resistance at $0.2114 and support at $0.2019.
Improving sentiment in the crypto market, driven by ETF inflows and favorable economic data, is boosting Dogecoin's technical outlook.
Traders are closely watching for a confirmation of a breakout above $0.211, which could lead to further gains towards $0.225.

Dogecoin (DOGE) is back in the spotlight, trading at $0.205 after a 2.3% daily gain. With a $31 billion market cap and $1.2 billion in volume, the price is starting to look tight. A 2-hour symmetrical triangle suggests a breakout is near – for short-term traders and long-term holders.

Momentum Builds to Resistance

Dogecoin’s recent upmove has been a series of higher lows – a good sign buyers are taking control. Price is now bumping up against resistance at $0.2114 – a level it failed to clear last week. The 50 period SMA has turned up and is support at $0.2019. RSI is 56.30 – not overbought. The chart is coiling with energy not exhaustion.

Triangle Compression Before Breakout

The symmetrical triangle – converging trendlines – is often a precursor to a big move. In DOGE’s case it’s a potential breakout to the upside if buyers can close above $0.2114. A confirmed break could go to $0.2186 and $0.2259 if volume accompanies. Failure to break and $0.1955 and $0.1886 are the next areas of interest.

Broader Sentiment is Bullish

Outside of the chart, Dogecoin’s technicals are getting a boost from improving sentiment across risk assets. Crypto markets are digesting ETF inflows, soft inflation data and dovish central banks – all good for speculative altcoins. Dogecoin is often a proxy for retail sentiment and tends to outperform in the early stages of risk on rotations.

Dogecoin Price Chart - Source: Tradingview — Dogecoin Price Chart – Source: Tradingview

That’s a good backdrop for any breakout.As DOGE bumps up against resistance, traders will be looking for confirmation – a 2 hour close above $0.211 could be the trigger. A path to $0.225 is getting more likely if bulls get momentum.

With this setup forming as several altcoin presales are getting attention to the space, Dogecoin could be setting up for a new rally – one that rekindles the meme magic while riding the macro and technical wave.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.