Dogecoin (DOGE) Price Prediction: Dogecoin Initiates Bullish Momentum Above $0.23 — How High Can DOGE Hit in August

Dogecoin is sparking fresh optimism as prices rebound above $0.23, fueled by renewed whale accumulation and rising trader sentiment ahead of a potential late-summer breakout.

After weeks of sideways movement, DOGE is showing signs of a bullish turnaround. Increased buying from large holders, coupled with strengthening technical signals, has positioned the meme coin for a possible surge into higher resistance zones this month.

Bullish Rebound Signals Emerging

Dogecoin has begun regaining traction, pushing above the $0.23 threshold after a brief lull. Whale buying has recently added nearly 1 billion DOGE to large wallets, lifting institutional ownership to nearly half of the circulating supply.

Dogecoin maintains a constructive outlook above $0.2210, with a break over $0.2268 likely accelerating gains toward $0.2300 and beyond. Source: tomas_jntx on TradingView

Despite resistance just above $0.23 limiting further gains, the firm $0.22 support suggests a solid foundation for the next move. Technical analysts describe the area as a “launchpad” for possible short-term rallies.

Technical Setups and Price Trajectory

DOGE is currently hovering around $0.23, with a robust market cap of roughly USD 34.6 billion. Closing convincingly above $0.23—aligned with the Bollinger Band median—may pave the way toward $0.25 or even $0.26.

Dogecoin has firmly held support at $0.198 and is projected to target $0.31–$0.35, with a potential rally toward $0.58–$0.59 if that level is surpassed. Source: Zip ₿ via X

Analysts predict a breakout toward the $0.25–$0.30 range before month-end, especially if DOGE sustains momentum around ongoing EMAs. Immediate resistance levels are clustering at $0.24, $0.30, and beyond.

Sustained buying and retail interest might fuel a rally toward $0.45–$0.55. Over larger timeframes, technical patterns like symmetrical or descending triangles have historically preceded explosive breakouts—and in an extreme bullish case, some see potential for a speculative surge to $5, though that would require extraordinary market conditions.

Whale Behavior & Market Sentiment

Whale activity remains a central driver of current momentum. Large investors recently accumulated over 2 billion DOGE—valued at around $400 million—during the latest dip.

In August, DOGE also ranked among the top meme coins targeted by major holders, indicating renewed confidence in its near-term potential.

How High Could DOGE Go This Month？

Base Case: A climb to $0.25–$0.30 seems plausible if DOGE breaks cleanly above $0.23–$0.24 with continued volume and supportive sentiment.

Dogecoin was trading at around $0.23, up 4.97% in the last 24 hours at press time. Source: Brave New Coin

A push toward $0.35–$0.38 may unfold if broader crypto sentiment shifts upward and technical setups confirm follow-through.

Targets like $0.45–$0.55 are conceivable in an extended rally—but hitting $5 remains highly speculative and would require exceptional catalysts.

Looking Ahead

Dogecoin appears to be regaining momentum under its wings once more. The upside break above the $0.23 level could unlock the gates to $0.30, and sustained momentum could even test $0.35–$0.38.

Lastly, DOGEs direction in August will depend on whether short-term resistance can be broken by whale accumulation and technical momentum. Only a decisive break above $0.24, accompanied by volume, will confirm a new uptrend.