Dogecoin Price Soars 11% in a Week as Analyst Predicts a Rally to $0.70

Highlights:

• Dogecoin price drops 1% to $0.22, as trading volume decreases 11%.
• Crypto analyst predicts a rally to $0.70 if $0.36 barrier gives way.
• If the key support zones hold, Dogecoin price could break above $02.24 to $0.48 soon.

Dogecoin price has slipped 1.6% to $0.22, as its trading volume drops 11% to $2.6 billion. This sudden drop shows a drop in market activity over the past 24 hours. However, DOGE is 11% over the past weekend and 15% over the past month. Dogecoin ($DOGE) has been performing admirably in the recent past and has seen massive increases. According to a popular analyst, Ali Martinez, as soon as DOGE corrects above $0.36, the way around will be clear to $0.70. 

Once Dogecoin $DOGE clears $0.36, the path is clear. Targets reset to $0.70. pic.twitter.com/jXbB6BmIIM

— Ali (@ali_charts) August 11, 2025

The recent Dogecoin derivatives data also confirm the bullish expectations, although some of the inputs portray a need to temper. Trading volume of Dogecoin has stagnated at 12.84% in the last 24 hours to reach $6.80 billion. Notably, the open interest has dropped to 3.42 billion, marking a 5% decrease. Interestingly, the volume of the options market has decreased significantly by 72.47% which could indicate less trading of options.  

The ratios of long to short positions on the major platforms, such as Binance, have a rather interesting trend. The Binance DOGE/USDT long-to-short is 2.53, implying a bigger ratio of long positions over shorts. It indicates that most traders believe in the further rise of Dogecoin price following the bullish mood around the crypto. This is an indication that even though the sentiment remains basically bullish, a section of the market participants may be anticipating future turbulence.

Dogecoin Price Shows Strength Despite Mixed Technical Signals

Currently, the Dogecoin price is trading at $0.22, within the consolidation channel. This phase may act as an accumulation period before the bulls strike to the upside.  The 4-hour chart shows DOGE riding a bullish wave, with the price bouncing between a high of $0.24 and a low of $0.15. The 200 SMA (Simple Moving Average), sitting at $0.2211, acts like a solid support level, and the price is trading just above it. That is a bullish signal. The 50-day SMA at $0.2170 is also sloped upward, hinting that there is still some momentum that could push DOGE higher.

The Relative Strength Index (RSI) is hovering at 51.35 and facing upward, signaling more buying pressure ahead. Moreover, there is more room to run before Dogecoin price hits exhaustion territory. The Moving Average Convergence Divergence (MACD) is bearish as the MACD line has crossed below the signal line on 10 August. This cautions traders of a potential selling pressure in the market, unless the MACD changes.

Can DOGE Rally to $0.70 Levels?

Looking at the bigger picture, the recent 11% weekly pump suggests strong community sentiment in the DOGE market. The meme coin could therefore break above the $0.24 barrier. If the current support zones hold, DOGE might test resistance around $0.24 and soar to $0.4843, marking over 100% surge. A break above that and DOGE could run back to $0.70 level. Conversely, if the bears take control, those 50-day and 200-day SMAs could turn into a battleground. A drop below might send the meme coin back to $0.15.