As the crypto market shows signs of stabilization, DOGE price has caught the attention of traders with a familiar technical signal: its 4-hour RSI is once again entering the same territory that previously triggered a massive 70% rally. With momentum building and investor sentiment recovering, the big question is whether Dogecoin can repeat history or even outperform it.
RSI Repeats the Pattern: Can DOGE Price Rally Again?
Technical analysts are closely watching the 4-hour Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements. The last time Dogecoin entered this zone, its price skyrocketed from around $0.16 to over $0.27 within days, a near-vertical 70% gain.
Now, that same RSI level is flashing again. Historically, when DOGE hits this zone after a cooldown, it’s often followed by an uptick in volume and a parabolic move. Could we be on the verge of another DOGE explosion?
DOGE Price Action: Support Holding Near $0.19
As of August 5, DOGE price is hovering around $0.198, with a slight bullish recovery after a dip below $0.19. The current support zone lies between $0.185 and $0.192, an area where buyers previously stepped in.
Source: Trading View
If this level holds, DOGE could aim for resistance near $0.215, followed by $0.245 a breakout above this level would confirm the bullish continuation. On the downside, a drop below $0.185 could open the door to a correction toward the $0.165–$0.17 zone.
The volume profile supports the case for a potential upside. With over 106 million DOGE traded in the last 24 hours and rising buy pressure on Binance, traders are starting to position early.
The Meme Factor: Sentiment Still Plays a Role
Unlike traditional assets, DOGE remains heavily influenced by community sentiment and online narratives. While Elon Musk has remained silent in recent weeks, retail enthusiasm hasn’t faded entirely. Tweets, memes, and community buzz continue to circulate—further fueled by the recurring RSI setup.
Importantly, DOGE continues to hold a strong presence among meme coins, maintaining high liquidity and accessibility across major exchanges. This makes it an ideal candidate for speculative rallies when technicals align with social buzz.
Will DOGE Follow Its Last Breakout Path?
Let’s rewind the chart. During the last RSI flash on the 4-hour timeframe, DOGE bounced off $0.158 and climbed rapidly to $0.271 before encountering profit-taking and resistance. Notably, the RSI in that instance peaked just before the rally topped out offering a useful signal for both entry and exit.
Now, DOGE price has once again reached that same momentum inflection point, just above $0.19. If the pattern repeats, a conservative target could be $0.235, while a more aggressive rally could push DOGE above $0.27, setting up a test of the psychologically important $0.30 mark.
Final Thoughts: What This Means for DOGE Price
While history doesn’t always repeat, it often rhymes and the current technical setup for DOGE price is too similar to ignore. RSI momentum, recovering sentiment, and strong support all point toward a potential upside scenario. But traders should remain cautious volume confirmation and resistance breaks will be crucial for validating the breakout.
As always with meme-driven assets, the combination of technical signals and community engagement will likely determine the next move. DOGE price has surprised markets before and with the RSI repeating its signal, it just might do it again.
