TLDR
- The DOGE price moved above the $0.23 resistance level after two weeks of consolidation.
- Analysts believe the Dogecoin price could reach $2 if the current momentum continues.
- Crypto Patel identified a strong support level for the DOGE price at $0.15.
- Whales have been accumulating DOGE within the $0.18 to $0.23 buying zone.
- The odds of a spot Dogecoin ETF approval increased from 51% to 71% in recent days.
The DOGE price has broken a multi-week resistance and now trades higher as bullish sentiment grows. If current momentum holds, analysts project possible gains toward $2. Rising Dogecoin ETF approval odds and strong whale activity are reinforcing this upward outlook.
DOGE Price Breaks Key Resistance
The Dogecoin price moved past the $0.23 resistance after struggling for two weeks. Bulls are now working to turn this level into support. The token trades at $0.24 today, marking a 7.75% daily gain.
Analyst Crypto Patel said the DOGE price has already secured strong lower-level support. He pointed to $0.15 as a likely floor.
“Even if DOGE struggles, it has a firm base,” he stated.
$DOGE is holding strong above $0.150 support, building pressure for a potential breakout this bull run.#Doge Accumulation between $0.23–$0.18 could set up targets at $0.50, $1, and even $2 if momentum kicks in.
The #DogeArmy might be gearing up for its biggest run yet.… pic.twitter.com/FA6ldVcnid
— Crypto Patel (@CryptoPatel) August 9, 2025
Whales have been buying within a strategic zone between $0.18 and $0.23. This accumulation could sustain momentum for the next breakout. Analysts say maintaining this zone is critical for further upward movement.
Analyst Predicts Rally Toward $2
Crypto Patel forecasts the Dogecoin price could rally to $2 in the short term. This projection depends on continued buying at current accumulation zones. Whales are positioned to benefit from any sustained bullish trend.
The analyst emphasized the importance of strong support zones in driving breakouts.
“As long as whales hold, upward moves will come,” Patel explained.
His outlook aligns with broader market optimism.
The long-term DOGE price forecast also points to more gains beyond 2025. Market participants are watching accumulation patterns for early signs of major rallies. Consistent buying pressure can set the stage for sustained growth.
Dogecoin ETF Approval Odds Boost Whale Activity
Polymarket data shows that the odds of a spot Dogecoin ETF approval have risen from 51% to 71% since Thursday. Analysts attribute this shift to changing U.S. crypto regulations. President Trump recently allowed crypto investments in 401(k) retirement plans.
This policy change has encouraged whale participation in DOGE. Data from Hyperliquid reveals $12 million in new long positions within 24 hours. These large addresses tend to hold during resistance tests.
Whales are now targeting potential breakouts as optimism about the Dogecoin ETF rises. Analysts believe their sustained positions can help the DOGE price build upward momentum. Previous resistance rejections may give way to stronger rallies.
