Dogecoin Price Outlook: Why $0.20 Could Be the Key Level for the Next Rally

Jakarta, Pintu News – According to Coinpedia (18/8), the Dogecoin (DOGE) price is testing an important support zone around $0.22, with increasing attention on the $0.20 level as a potential turning point.

The price movement pattern suggests that a retest at $0.20 could form a stronger foundation for a rebound, especially if buyers step in to defend this region.

Historically, periods of consolidation around this level often precede significant price spikes, so the next few sessions will be very important.

If DOGE is able to hold above $0.20, it could pave the way for further gains, while failure to hold this level risks a deeper drop.

Rising Open Interest Signals Speculation

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Despite the weakness in Dogecoin’s spot price, derivatives data shows that DOGE ‘ s open interest jumped above $3.7 billion, signaling a significant influx of speculative positions.

This surge occurred while trading volumes fell by more than 40%, indicating that fewer market participants are actively buying and selling on the spot exchange, while traders using leverage are increasing their exposure.

Divergences like this often precede sharp price movements, with DOGE being at the center of expectations of increased volatility.

Bearish Market Structure in Progress

Technically, Dogecoin has broken support at $0.2295, dropping below $0.2320 as well as the 100-hour moving average, signaling a weakening market structure with sellers dominating the short-term.

On-chain analysis further reinforced the bearish view, as profit and loss realization data showed massive capitulation, the largest in over a year.

Plus, the long-to-short ratio fell below 0.8, signaling the market is now heavily tilted towards short positions.

Can Dogecoin Price Rise from $0.20 Level?

The support zone at $0.21 is now the most crucial area to watch. If buyers are able to hold this level, a rebound could potentially pave the way towards $0.26 and even $0.30, corresponding to the previous resistance point.

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Historically, Dogecoin has often recorded significant rallies after consolidating in this zone, making it an important area not only for traders, but also for long-term investors.

However, if the support fails to hold, the correction is likely to continue, putting DOGE at risk of a deeper drop to $0.19.

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*Disclaimer

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:

• Coinpedia. Dogecoin Price Prediction: Why $0.20 Could Be the Key Support for the Next DOGE Rally. Accessed on August 19, 2025