Is Dogecoin on Track for $2? Analyst Patel Sees a Strong Rally Ahead

Jakarta, Pintu News – As reported by Coingape, the Dogecoin (DOGE) price is potentially poised for another upswing after successfully breaking through a resistance level that has held for several weeks.

Crypto analyst Patel expects DOGE to reach a price of $2. Meanwhile, the SEC’s chances of approving a spot ETF are increasing, attracting the interest of whale investors.

On August 9, DOGE was trading at $0.24 with a gain of 7.75%.

Dogecoin Price Aims for $2 after Breaking Resistance

Over the past two weeks, Dogecoin price faced strong resistance at the $0.23 level. Now, this level has been broken, so the bulls have the task of turning it into a support area.

Read also: Dogecoin Slips on August 11, 2025, as Whale Moves Nearly $200 Million in DOGE

Crypto analyst Patel said that although DOGE had difficulty breaking through resistance, the asset already has support levels in the lower price range, one of which is at $1.50.

With Dogecoin’s price dropping below $0.15 unlikely, the analyst noted that whales are now buying in the strategic zone between $0.18 and $0.23. It is in this price range that large address holders continue to add to their holdings.

Crypto Patel emphasized that as long as this accumulation zone remains, the chances of a breakout will increase, and the rally could push the price to $2.

These are short-term projections for DOGE, while long-term projections to 2025 and beyond indicate further upside potential.

DOGE ETF Approval Chances Increase Sharply, Whales Open Long Positions – Is $2 Realistic?

The SEC’s chances of approving a spot Dogecoin ETF jumped significantly. Based on Polymarket data, the probability rose from 51% on Thursday to 75% on August 11, 2025, reflecting growing confidence that the US regulator will finally give the product the green light.

Read also: Ethereum Surge Pushes Vitalik Buterin’s Net Worth Past $1 Billion!

This increased opportunity is thought to be triggered by policy changes in the US crypto sector. CoinGape reported that President Trump has allowed the use of crypto assets in 401(k) retirement plans.

The policy triggered action by whales, who usually capitalize on bullish momentum in the Dogecoin price. Now, they are starting to open new positions with the expectation of the next upward trend.

Hyperliquid data shows that in just 24 hours (9/8), whales opened long Dogecoin positions worth more than $12 million. This activity indicates their willingness to maintain their positions even though the DOGE price is testing a resistance level that it previously failed to break.

In conclusion, the Dogecoin price is likely testing resistance again after a few weeks, and the whales show no sign of giving up.

With more and more analysts switching to a bullish view as well as the increasing chances of Dogecoin spot ETF approval, the potential for a price rise is opening up.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Dogecoin Price: 2 Analysts Bull Rally as ETF Approval Odds Surge and Whales Open 12M Longs. Accessed on August 11, 2025