DOGE (Dogecoin) price aims for $0.38 rally as bulls gain momentum after recent pullback

August 8, 2025

Dogecoin, known by its symbol DOGE, is showing resilience in its price action following a setback at the Volume-Weighted Average Price (VWAP) level. Despite a recent pullback, DOGE remains above an essential ascending support line, demonstrating strength and holding steady around $0.2137 on the weekly timeframe.

As traders analyze the charts, three key price targets are in focus: $0.24, $0.30, and a significant level at $0.38. This stability and potential for growth amidst market turbulence are encouraging signs for technical analysts who closely monitor DOGE’s movements.

Technical indicators are pointing towards a possible breakout for DOGE. The Relative Strength Index (RSI) is approaching the pivotal 50 level, indicating a shift in momentum favoring the bulls. Additionally, there is evidence of positive divergence, suggesting that institutional investors may be accumulating DOGE while retail traders are distracted by other market activities.

Looking ahead, macroeconomic factors such as potential interest rate cuts by the Federal Reserve could further fuel DOGE’s upward momentum. During times of risk-on sentiment, assets like meme coins often benefit, and a breakthrough above $0.30, supported by substantial trading volume, could propel DOGE towards the $0.38 price target.

In conclusion, DOGE’s recent price action highlights its resilience and potential for a bullish breakout. With technical indicators signaling positive momentum and key resistance levels within reach, investors and traders are closely monitoring DOGE’s movements as it aims for a target price of $0.38.