Doge Coin Price Prognosis for August 5th
In the world of cryptocurrencies, the current trends for Dogecoin (DOGE) and Ripple (XRP) are painting a mixed but optimistic picture.
As of early August 2025, Dogecoin is trading around $0.22, demonstrating a 3.7% rise in the past day and gains of 7.4% over the past week and 27.8% over the past month. This upward movement follows a bottom near $0.055 in late 2023, with DOGE forming a bullish rising wedge pattern on the weekly chart.
However, DOGE recently experienced a sharp 30% correction from its July peak at $0.28 down to a critical support level near $0.19. Despite this downturn, market structure remains bullish in the longer term, supported by key technical indicators such as a golden cross formation and a 3:1 long-to-short ratio on major exchanges.
Short-term price outlook suggests possible minor dips back to $0.20 before rebounds to the $0.22–$0.24 range, contingent on maintaining support. If critical support at $0.19 fails decisively, lower supports near $0.17 and $0.15 could be tested.
Price predictions from broader market analysis anticipate a moderate rise of about 16% over the next month, targeting approximately $0.258 by early September 2025. Analyst Denys Serhiichuk specifically highlights the bullish wedge pattern breakout possibility leading to higher price targets if Bitcoin and Ethereum strengthen, supporting upside momentum toward $0.25–$0.30 within the remainder of 2025.
Meanwhile, the price of XRP, as of press time, is $0.2080. The hourly chart shows a false breakout of the local resistance of $0.2015 for DOGE. If the $0.20 zone breaks out, the accumulated energy might be enough for an ongoing correction to the $0.18 mark for XRP. However, the resistance for XRP is expected to be tested tomorrow if the bulls' pressure continues.
It is crucial to note that U.Today is not liable for any financial losses incurred while trading cryptocurrencies. It is advisable to conduct your own research and consult financial experts before making investment decisions. Always remember that the content provided by U.Today is accurate as of the date of publication.
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- Despite the ongoing bullish trend, Dogecoin (DOGE) recently experienced a sharp correction, with the price dropping 30% from its July peak, down to a critical support level near $0.19.
- In contrast, the price prediction for DOGE in the broader market analysis suggests a moderate rise of about 16% over the next month, targeting approximately $0.258 by early September 2025.
- Analyst Denys Serhiichuk predicts that if Bitcoin and Ethereum strengthen, this could lead to higher price targets for Dogecoin (DOGE), potentially reaching $0.25–$0.30 within the remainder of 2025. This prediction is partly based on the bullish wedge pattern breakout possibility identified by Serhiichuk.
In these sentences, the terms 'bitcoin', 'crypto', 'price prediction', 'trading', 'finance', and 'investing' are all used in relation to Dogecoin (DOGE), while the term 'crypto' is also used generically.
