Key Insights
- Dogecoin breaks trendline, completes corrective wave, setting stage for a potential upward price rally.
- Whale transactions surge to one-month high, signaling renewed interest from large-value DOGE holders.
- Analyst targets $1 DOGE as momentum and bullish chart patterns align across multiple technical indicators.
A recent chart shared by Trader Tardigrade on the 2-week timeframe shows Dogecoin (DOGE) entering a bullish phase after completing a five-wave corrective structure. The setup is based on Elliott Wave theory and shows that DOGE may have ended its previous downtrend. A breakout above the falling trendline supports this shift.
The chart also shows a pattern resembling a previous rally in 2024, where price surged sharply after a similar setup. In both cases, the price moved upward after breaking out of a wedge pattern, marked by curved green arrows. DOGE’s current movement is showing strong bullish candles, indicating increased buying momentum.
Momentum Indicators Align with Bullish Price Action
At the lower section of the chart, a momentum oscillator—likely a Stochastic RSI—has crossed upward from the oversold zone. This is a move that, in past cycles, preceded sharp price increases. This indicator, combined with the breakout pattern, points to growing market strength.
DOGE is trading at approximately $0.2313 as of August 15, 2025. Analyst expectations suggest a possible move toward the $1 level if momentum continues to build. Trader Tardigrade noted that “#Dogecoin is gaining strong momentum to surge above $1,” though the timing remains uncertain.
Whale Activity Reaches One-Month High
Data from Ali Martinez shows that Dogecoin has seen a spike in whale transactions—defined as trades over $1 million. These transactions reached a one-month high as of August 13, with volume rising alongside price. Whale activity had remained subdued through late July and early August but began rising around August 7.
The chart shows that price movements and large transactions are currently aligned. As DOGE neared $0.248, the number of large trades also peaked. This trend may suggest whales are re-entering the market or repositioning during price volatility. Ali stated, “Whales are back!” as a reference to this shift.
Source: Ali martinez/X
Short-Term Strategy and Risk Outlook
Umut Aktu posted a short-term trade setup for DOGE, identifying potential entry at $0.22. The strategy targets profit zones at $0.23, $0.235, and $0.245 with a stop-loss placed at $0.2112. The current price is trading near key technical support, which could offer a bounce opportunity.
The setup also acknowledges current downside pressure but allows for possible rebounds based on reaction buying. This risk-managed approach reflects the cautious optimism seen across multiple analyses.
| Disclaimer: The text above is an advertorial article that is not part of Coincu.com editorial content. |
Source: https://coincu.com/analysis/dogecoin-rally-brewing/