Dogecoin (DOGE) has pushed past a key ceiling this week, sparking talk of a new bullish wave.
The memecoin is trading at $0.24 as of August 9, up 7.75% in the past 24 hours, after breaking through multi-week resistance around $0.23. Traders see this as an early sign that DOGE could be gearing up for a bigger move — potentially toward $2 — if current momentum holds.
Analyst Crypto Patel highlights an accumulation zone between $0.18 and $0.23, where whales have been quietly building positions. He views this range as a strong buffer, with $1.50 serving as a key support level further below. According to Patel, the likelihood of Dogecoin slipping under $0.15 is low, which gives large investors confidence to keep adding to their holdings.
The surge in optimism isn’t just technical. Market sentiment is getting a boost from growing speculation that the U.S. Securities and Exchange Commission could approve a spot Dogecoin ETF. Polymarket data shows approval odds jumping from 51% to 71% in just 24 hours. The shift follows a broader policy change — President Trump’s decision to allow cryptocurrencies in 401(k) retirement plans — which has fueled expectations of higher mainstream adoption.
Whales appear to be positioning themselves for such a scenario. Data from Hyperliquid indicates that in the last day alone, over $12 million in long positions have been opened on DOGE. This influx of leverage suggests that big players expect the breakout to extend rather than fizzle.
With technical structure turning bullish, ETF hopes gaining ground, and whale accumulation showing no sign of slowing, Dogecoin’s path toward the $2 mark may be less of a stretch than it seemed just weeks ago. For traders, the key watchpoints will be whether the $0.23 breakout holds as new support and how quickly regulatory developments play out.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/dogecoin-price-prediction-can-bulls-push-doge-to-2/