Dogecoin Holds $0.223 as Triangle Squeeze Sets Stage for Breakout

• Dogecoin trades in a narrowing triangle, holding $0.223 with strong resistance capped at $0.245 and support anchored at $0.213.
• Net exchange outflows of $19.6 million on August 25 suggest reduced sell-side pressure amid quiet accumulation.
• Moving averages between $0.211 and $0.225 form a key support cluster if DOGE tests lower levels within the range.

Dogecoin traded near $0.223 on August 25, showing resilience after a 3.7% drop. The price continues to consolidate between the rising support trendline that has held since June and a descending resistance line traced back to November 2024. This converging triangle pattern is tightening, with a key inflection point forming.

Repeated attempts to breach the $0.235 to $0.245 zone have met with consistent selling pressure. Despite this, buyers have protected the lower boundary at $0.213, reinforcing that level as a solid base. The price currently oscillates within the $0.213 to $0.245 range, suggesting a breakout or breakdown is nearing.

Fibonacci Levels Provide Tactical Guideposts

The 0.236 Fibonacci retracement level stands at $0.2139 and has acted as a critical summer pivot. Should Dogecoin break above $0.25, further targets emerge at $0.2658, $0.3077, and $0.3499. A decisive close below $0.213 would instead expose lower support levels at $0.19 and $0.17.

Dogecoin’s 20-day EMA is at $0.2259, with the 50-day and 100-day EMAs at $0.2181 and $0.2110, respectively. These averages are closely aligned, forming a price shelf that may attract buyers if the $0.223 level gives way. A close below these could shift momentum in favor of sellers.

RSI Reflects Market Equilibrium

The Relative Strength Index stands at 49.5, indicating a balance between buying and selling pressure. A move above 55 could point to renewed bullish sentiment, while a drop under 45 may signal a bearish tilt and support retests.

Spot flow data showed $19.6 million in net outflows on August 25, indicating that more Dogecoin left exchanges than entered. While not a signal of strong accumulation, it reduces sell-side liquidity and points to quiet buying interest during consolidation.

On-Chain and Institutional Developments

Beyond technicals, Dogecoin's network fundamentals received a boost with Thumzup's $50 million mining acquisition. Additionally, institutional participants are reportedly accumulating approximately 2 billion DOGE weekly, while futures open interest has reached $3 billion.

Until a firm break above $0.25 or below $0.213 occurs, Dogecoin is expected to continue moving within the current trading band. Traders are watching the $0.213 to $0.25 range closely for a directional shift.