Technical analysis by Phemex about Symbol DOGE on 7/31/2025

Dogecoin ( DOGEUSDT.P ), the original meme cryptocurrency, is once again capturing investor attention, fueled by impressive bullish movements. Currently trading around $0.2245, DOGE surged approximately 70% in July, decisively breaking the key resistance at $0.22 and challenging the next resistance level near $0.28. With whale accumulation intensifying, renewed retail investor enthusiasm, and heightened speculation surrounding possible ETF approvals, Dogecoin appears poised to potentially sustain or even amplify its recent gains. But the key question remains: is DOGE truly ready to moon again, or is caution necessary following such rapid price movement? Let’s carefully explore a few potential scenarios to inform your trading strategies: Possible Scenarios 1. Bullish Continuation—Targeting Higher Levels After successfully breaking above the crucial $0.22 resistance, Dogecoin could maintain its upward momentum if buying pressure remains strong. In this bullish scenario, DOGE might swiftly retest the immediate resistance at $0.25, then target higher levels near $0.28, and potentially surge toward the significant resistance at $0.39. Pro Tips: Entry Signals: Watch for a confirmed breakout above $0.25, especially if accompanied by rising trading volume, as a potential bullish entry point. Profit-Taking: Strategically secure partial profits at resistance zones around $0.28 and $0.39. Risk Management: Implement tight stop-loss orders just below the key support at $0.20 to guard against unexpected reversals. 2. Retest and Accumulation—Neutral Scenario Given DOGE’s rapid price rise, a short-term pullback towards previous resistance-turned-support at $0.22 or even $0.20 is plausible. Such retracements, particularly on decreasing volume, might signal healthy consolidation, setting the stage for future bullish momentum. Pro Tips: Buying Opportunities: Look to accumulate DOGE if a low-volume pullback occurs toward support zones around $0.22 or $0.20. Monitor Volume: Observe closely for decreasing trading volume during retracements, which typically indicates positive consolidation rather than a bearish reversal. 3. Bearish Scenario—Deeper Correction Possible Should overall market sentiment shift negatively or DOGE fail to hold crucial support at $0.22, bearish pressure could escalate, potentially pushing Dogecoin down to deeper support levels around $0.198, and possibly as low as $0.15 or $0.13. Pro Tips: Risk Management: Consider reducing or exiting positions if DOGE decisively breaks below $0.22 on increased selling volume. Long-Term Accumulation: Long-term holders may strategically accumulate DOGE at historically strong support levels ($0.15 or $0.13) once price stabilization occurs. Conclusion Dogecoin (DOGE) stands at a pivotal point, balancing bullish enthusiasm against the possibility of a correction. Traders should carefully monitor resistance at $0.25, the critical support at $0.22, and closely observe volume dynamics. By strategically aligning their trades with these outlined scenarios and employing disciplined risk management, traders can confidently navigate DOGE’s volatility and potentially capitalize on its next significant move. 🔥 Tips: Armed Your Trading Arsenal with advanced tools like multiple watchlists, basket orders, and real-time strategy adjustments at Phemex. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.