Dogecoin is About to Rise in Price, Analysts Indicate $1 is Within Reach

The recent chart shared by Trader Tardigrade on the 2-week timeframe shows that Dogecoin is entering a bullish phase after completing a five-wave corrective structure. This setup is based on Elliott wave theory and indicates that DOGE may have ended its previous downtrend. The breakout above the downtrend line has supported this change.

The chart also shows a pattern similar to the previous bullish phase in 2024, when the price surged after a similar setup. In both cases, the price increased after breaking out of the wedge pattern, marked by the green curved arrows. The current volatility of DOGE is showing strong bullish candles, indicating that buying momentum is increasing. Momentum Indicators Suitable For Bullish Price Action At the bottom of the chart, a momentum oscillator (—possibly Stochastic RSI—has crossed up from the oversold area. This is a move that often signals strong bullish trends in previous cycles. This indicator, combined with the breakout pattern, suggests that market strength is increasing. DOGE is trading at around $0.2313 as of August 15, 2025. Analysts predict that the price could rise to $1 if the bullish momentum continues. Trader Tardigrade notes that "#Dogecoin is seeing strong bullish momentum to surpass the $1 mark," although the timing is still uncertain. Whale Activity Reaches Highest Level in a Month Data from Ali Martinez shows that Dogecoin has seen a surge in whale transactions - defined as transactions over 1 million dollars. These transactions reached a one-month high as of August 13, with volume increasing along with price. Whale activity remained low throughout late July and early August but began to pick back up around August 7. The chart shows that price movements and large transactions are currently aligned. As DOGE approaches the $0.248 level, the number of large transactions also peaks. This trend may indicate that whales are returning to the market or repositioning in the context of price fluctuations. Ali said, "Whales are back!" to refer to this change.

Short-Term Strategy and Risk Outlook Umut Aktu has posted a short-term trading setup for DOGE, identifying a potential entry point at $0.22. This strategy targets profit zones at $0.23, $0.235, and $0.245 with a stop loss set at $0.2112. The current price is trading near a key technical support level, which may present a recovery opportunity. This setup also acknowledges the current bearish pressure but allows for recovery potential based on buying response. This risk management approach reflects the cautious optimism seen across various analyses.