Dogecoin (DOGE) Price Prediction for August 8

After pulling back from the $0.26 resistance last week, Dogecoin price today is consolidating near $0.206, clinging to a critical horizontal support aligned with the lower bound of the previous breakout zone. This comes after DOGE dipped back into the descending channel structure, risking a breakdown continuation if volume fails to return.

Dogecoin Price Forecast Table: August 8, 2025

What’s Happening With Dogecoin’s Price?

On the daily timeframe, Dogecoin price has returned to retest the lower boundary of the broad descending channel it broke from in July. Price is hovering near $0.206, just above horizontal support at $0.20, while struggling to reclaim the $0.217–$0.220 resistance band.

The weekly Fibonacci retracement chart shows DOGE resting just above the 0.236 Fib level at $0.21. A failure to reclaim this area decisively may weaken the bullish structure that formed earlier this summer. Notably, the On-Balance Volume (OBV) is holding near $64.5B, signaling that despite the recent dip, volume flow remains steady from June’s upside impulse.

Why Is The Dogecoin Price Going Down Today?

Why Dogecoin price going down today can be explained by several factors across intraday indicators and on-chain behavior. The latest spot netflow data shows a negative outflow of $1.37 million as of August 7, suggesting mild capital exit from exchanges. While not dramatic, this outflow adds to the short-term bearish weight.

On the 30-minute chart, DOGE continues to struggle near the VWAP band at $0.205–$0.207, with multiple intraday rejections visible at the upper envelope. RSI is at 60.67 but starting to flatten, indicating hesitation from buyers despite a brief impulse. 

The Supertrend on the daily chart flipped bearish last week and remains unbroken at $0.246, reinforcing resistance overhead. Additionally, the DMI on the daily timeframe reflects a mixed trend, with +DI (19.27) and -DI (21.75) converging under a weak ADX (21.89). This suggests a lack of directional strength in either direction.

EMA and Bollinger Structure Indicates Neutral-Bearish Bias

Zooming into the 4-hour chart, the Bollinger Bands are compressing around the $0.206–$0.210 region. The price is attempting to reclaim the mid-band near $0.210 but remains below all major exponential moving averages — with the 20/50/100/200 EMA cluster acting as resistance between $0.203 and $0.213.

DOGE is now squeezed between the lower band at $0.196 and the upper limit of the EMA cluster. A rejection from here may invite a retest of the $0.195 zone, especially if momentum weakens further. The lack of conviction in reclaiming the short-term trendline adds to the probability of range-bound price action or another pullback before any strong reversal.

Dogecoin Price Prediction: Short-Term Outlook (24H)

For August 8, Dogecoin price is expected to remain within the $0.203–$0.213 range unless volume spikes. A clean break above $0.213 with momentum could reopen the path to $0.226 and then $0.246 (Supertrend resistance). However, if DOGE fails to close above the EMA cluster, bears may attempt a push back toward the $0.196–$0.195 zone.

RSI on lower timeframes is in neutral-to-bullish territory but fading slightly. On-chain netflow is modestly negative, and the Supertrend remains bearish. Traders should monitor the VWAP band for intraday trend bias and watch for a decisive move above or below $0.210 to set the next impulse.