Join Our Telegram channel to stay up to date on breaking news coverage
The Dogecoin price has surged 8% in the last 24 hours to trade at $0.2207 as of 1:23 a.m. EST on trading volume that skyrocketed 128% to $2.5 billion.
The surge in the DOGE price comes as whales have snapped up 230 million DOGE in 24 hours and over 1 billion in 48 hours, fueling a rise in trading volumes. This aggressive buying signals robust institutional confidence and sets the stage for a potential bullish breakout.
230 million Dogecoin $DOGE bought by whales in 24 hours! pic.twitter.com/dYiCadxLtz
— Ali (@ali_charts) August 8, 2025
However, there’s a risk of sharp corrections if sell pressure emerges near resistance, so what should traders expect of DOGE?
Dogecoin Price Breaks Free: Bulls Eye Higher Ground Above Key Support
The DOGE price has recently reversed from a downtrend and broken above a descending resistance line, which shows a short-term bullish shift.
The Dogecoin price climbed past the 50 Simple Moving Average (SMA) on the 4-hour chart at $0.2058 and is now hovering just above the 0.236 Fibonacci retracement level at $0.2124.
Recent DOGE price action suggests that bulls are attempting to build momentum for a further push toward the $0.2265 (0.382 Fib) resistance zone, as GeckoTerminal data shows.
Meanwhile, the 50 Simple Moving Average (SMA) is turning upward and is positioned below the price of Dogecoin, offering immediate dynamic support. The 200 SMA at $0.2145 is also close to the current price, suggesting that this level could act as a key pivot point.
The Relative Strength Index (RSI) is at 67.34, reflecting strong momentum but approaching overbought territory. The RSI signals that Dogecoin’s price still has room to rally before becoming overextended.
If DOGE sustains above $0.2145 and breaks past $0.2265, the next major target lies at $0.2379, with $0.2493 as a higher bullish objective.
However, falling back below $0.2124 would weaken the Dogecoin bullish setup and could see a retest of the $0.2058 support area.
Meanwhile, investors are piling into a new Dogecoin derivative presale called Maxi Doge Token (MAXI).
After racing past $100k raised within minutes of its launch a week ago, the presale has garnered over $476k. As a result, the 99Bitcoins YouTube channel, with over 723K subscribers, said MAXI has the potential to soar 100X after launch.
A Promising Alternative To Dogecoin
If you sat aside and watched early investors get rich on Dogecoin, Shiba Inu, Bonk, Floki, and Dogwifhat, there’s a meme coin with your name on it.
Maxi Doge is the new Ethereum-based dog coin that has watched its older cousins bask in success since 2017. This whole time, MAXI was ridiculed and spent his ‘adolescent’ years bouncing between rug pulls and failing in the gym.
But then he discovered the secret – 1,000x leverage and caffeine. Now, he’s here to show the other dog coins what he’s been working on.
Just like other meme coins, MAXI also encourages traders to forget orthodox investment principles, embrace camaraderie and collective belief while also chasing pumps.
The project reimagines the iconic Doge meme as a 240-lb canine juggernaut embodying the sheer willpower to help day-to-day investors unlock maximum gains all together.
Maxi Doge carries a powerful statement: “lift, trade, and repeat,” an ethos crafted to outperform even the original Dogecoin and deliver excellent returns to community members.
Its main aim is to build a community-driven ecosystem that thrives on harnessing 1,000x energy, shares leveraged insights, participates in competitions, and shares meme coin camaraderie to unlock maximum returns together.
Stake MAXI For 549% APY
The team has set aside 5% of its 150.24 billion token supply for staking. If you buy and stake now, the project offers a massive 549% annual percentage yield (APY).
Twenty-five percent of the token supply is allocated to marketing and partnership events via the “MAXI Fund,” a move aimed at amplifying visibility and volume.
MAXI tokens, priced at $0.000251, can be purchased using ETH, BNB, USDT, USDC, or a bank card.
Buy before a price hike in less than 2 days to lock in the best presale deal.
Related News:
- Best Altcoins To Watch This Week – Conflux, Sky, Maker
- BTC Jumps 2%, While This Layer-2 Presale Races Towards $8 Million
- XRP Soars 11% As The Ripple-SEC Case Ends, And This ICO Might Explode
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
