Dogecoin (DOGE) Price Prediction for August 23

The Dogecoin price today is trading around $0.212 after losing 2.5% in the last session. Despite recovering from the $0.20 low earlier this week, DOGE remains pinned under a descending channel on the 4-hour chart. Sellers continue to defend the $0.22–$0.225 resistance cluster, while buyers are relying on the $0.21 pivot to prevent a deeper slide toward $0.19.

Dogecoin Price Forecast Table: August 23, 2025

What’s Happening With Dogecoin’s Price?

On the 4-hour chart, Dogecoin is trapped inside a falling channel after repeated rejections from the $0.25 zone earlier this month. The purple trendline support from July has been broken, shifting momentum in favor of sellers. Immediate resistance is stacked at $0.22, where the upper channel line converges with a horizontal supply zone. A clean breakout above $0.225 is required to ease bearish pressure.

On the daily timeframe, DOGE is moving inside a symmetrical triangle, with price hugging the lower boundary. The Supertrend indicator remains bearish under $0.246, reinforcing the resistance overhead. Directional Movement Index (DMI) shows -DI edging above +DI, while ADX sits above 20, indicating that bearish momentum has not yet faded.

Why Dogecoin Price Going Down Today?

Why Dogecoin price going down today ties back to failing momentum on lower timeframes. The 30-minute RSI has slipped to 34.7, placing DOGE in near-oversold territory. This decline follows multiple bearish divergence signals spotted earlier in the week. VWAP also confirms weakness, with price consolidating below session value around $0.216–$0.218.

Fibonacci retracement analysis adds weight to the downside view. DOGE has slipped below the 0.236 level at $0.2139 on the daily chart. Unless this level is reclaimed, price risks sliding back toward $0.20 and potentially the 0.130 Fibonacci base if selling accelerates.

Netflow data on August 22 showed a -$9.5M outflow, which is mildly bullish as coins leave exchanges. However, this positive inflow-outflow balance has not yet translated into upward price traction due to prevailing bearish channel structure.

Indicators Show Bearish Bias With Limited Relief

The 4-hour EMA cluster adds another layer of resistance. DOGE trades below the 20, 50, and 100 EMAs, all aligned bearishly, while the 200 EMA at $0.22 caps the upside. Bollinger and Keltner Channels both show narrowing bands, hinting at a volatility squeeze that could lead to a breakout soon. For now, however, the bias remains toward the lower end of the channel near $0.20.

Money Flow Index (MFI) on the daily chart sits near 49.4, reflecting neutral liquidity flow. Parabolic SAR dots hover above price, further confirming bearish pressure unless DOGE closes above $0.225.

DOGE Price Prediction: Short-Term Outlook (24H)

In the next 24 hours, Dogecoin price action hinges on the $0.21 pivot. If bulls hold this zone and force a close above $0.225, a relief rally toward $0.247 and $0.265 (Fib 0.382) is possible. Beyond this, $0.30 stands as the larger breakout target.

On the downside, a close below $0.21 exposes $0.20 immediately, followed by $0.19 as the next demand zone. If sellers sustain momentum, $0.175 could be tested in a sharper retracement scenario. For now, the short-term bias remains cautious, with traders closely watching whether $0.21 can be defended.