Dogecoin is showing tentative signs of stabilization around $0.067–$0.070 after months of selling pressure, even though a confirmed trend reversal has not yet materialized. The meme coin touched a two-week high near $0.073 before retreating and is now testing key short-term moving averages, according to market data.
Derivatives markets are painting a more aggressively bullish picture. Futures open interest has climbed to roughly $1.21 billion, up from about $930 million in late June, and reached 17.18 billion DOGE in coin terms, according to CoinGlass. That is just below the 17.78 billion DOGE seen in October 2025, when the token traded near 25 cents. Trading volume jumped 95% to $1.39 billion, while options open interest rose 7.51% to 251,890 contracts.
Positioning is heavily skewed toward longs. On Binance, more than three long accounts exist for every one short, while OKX shows a ratio above five to one. This suggests traders are betting on a rebound even as DOGE remains down nearly 70% over the past year.
Technical analysts also highlight improving signals. CryptoPatel describes the current $0.07–$0.04 range as a major high-timeframe accumulation zone and sees a potential Wave 5 expansion with targets at $0.28, $1, $2, and $4, using a weekly close below $0.041 as invalidation. Trader Tardigrade notes that DOGE broke above its Ichimoku Kumo cloud for the first time in 87 days, with a bullish Kumo twist forming but not yet confirmed.
From a trend perspective, the 50-day moving average near $0.0723 is being tested directly, and the RSI has recovered to about 45.8 after previously sitting near 43. However, the 100-day and 200-day moving averages at roughly $0.0813 and $0.0971 remain well above price, meaning DOGE is still below all major medium- and long-term trend indicators.
Macro conditions may also be helping risk sentiment. July U.S. inflation data showed headline CPI rising just 0.1% monthly, with the annual rate easing from 3.5% to 3.4% and core inflation at 2.5% year-over-year, the lowest since February. Markets now price a 64% probability that the Federal Reserve pauses in September, up from 45% a week earlier.
For DOGE, a sustained move above $0.072–$0.073 could open a path toward $0.075 and then the stronger $0.081 resistance. On the downside, the $0.067–$0.068 support zone must hold; a decisive breakdown would invalidate the developing base and expose recent lows again. Until buyers clear these levels, the reversal setup remains promising but unconfirmed.
