- Dogecoin price remains in an up-trending channel and above EMA55, a support since Jan 2024.
- Dogecoin price short liquidations hit $6M, outpacing longs, signaling a strong upward price move.
- Options volume surged 180.77% to $591M, showing rising trader interest in DOGE’s next move.
Dogecoin price is testing a key support zone again, while market activity continues to rise. A consistent uptrend since early 2024 remains intact, and derivatives data shows increasing interest from traders. The $0.26 resistance level is now in focus as the next breakout target.
Dogecoin Price Action Supports Uptrend with Key Levels in Sight
Dogecoin price has remained trapped in an ascending channel that started forming in early 2024, and the price has been obeying its lower trendline by falling back to it and then rising again, whenever the market corrects. In August 2025, DOGE again closed above the EMA55 on the weekly chart, an important support line since January 2024.
The price movement is in the process of developing a cup-and-handle type of pattern. Assuming that DOGE manages to overcome the resistance level of $0.23- $0.26 and form this move with an adequate volume, then it is likely that the new upward trend will begin. According to the Fibonacci levels, the possible upside targets might be 0.313, 0.484, 0.848, and 1.16.
Source: CryptostarExpert
Liquidation data shows increased volatility. In the past 24 hours, short liquidations totaled over $6 million—nearly double the $3.64 million in long liquidations—indicating that recent price movement caught many short sellers off guard. However, a spike in long liquidations in the past hour could point to a minor correction before a possible continuation higher.
The trading volume of dogecoin increased by 13%, reaching a daily value of $5.89 billion. The amount of open interest has grown to $2.92 billion, which is possible evidence of increasing confidence and additional funds being deposited in futures activities.
Source: CoinGlass
The options market was also very active. The volume in the Options increased by 180.77% to $591 million making them position stronger to the risk of price movements. Options open interest increased by 10.52% to 4.17 million indicating increased strategic interest by hedgers and other trading speculators.
Technicals, volume, and the derivatives market seem to indicate positive market sentiment and the possibility of a bull run – assuming DOGE provides a convincing breakout at higher critical resistance levels.
Read Also:
