Content Writer
Harvey Hunter
Content Writer
Harvey Hunter
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The DOGE bull run could be in for a continuation, as popular pseudonymous analyst Cantonese Cat cites “great risk-reward” on the Dogecoin price outlook.
While macro uncertainty has dulled enthusiasm for riskier plays like meme coins, an 8% weekend bounce could signal the start of a new DOGE uptrend.
With the “reciprocal” tariff pause now over and higher duties on 92 countries set to take effect August 7, risk-on sentiment has been weakened amid fears of a mid-2025 bear market repeat.
However, speculation around a potential September rate cut remains high, with the potential to stimulate new inflows into risk assets like cryptocurrencies as the cost of borrowing lowers.
Is Dogecoin Ready for A Reversal?
In response to previous post shared on X, Cantonese Cat added that Doge displays “great risk-reward here and that I’ll do what I can to buy.“
The post in question noted how the Dogecoin price had broken the ”bear market trendline” that has held it in downtrend since late July, now retesting a ”bull market” support band.
Coinglass derivatives data shows speculative demand picking up again, with Open Interest up 2.43% today to $3.15 billion, traders are actively following price moves.
Exchange data shows these traders are positioning for a bullish continuation, with a Binance Long/Short Ratio of 2.98, 75% of traders positioning long.
Dogecoin Price Analysis: Is the Bull Market Ready to Continue?
The breakout from the “bear market trendline” noted by Cantonese Cat feeds into a broader falling wedge pattern, acting as the upper boundary to its consolidation.
A successful back-test of this trendline has now confirmed it as support, marking a higher low and validating the wedge breakout structure.
Momentum indicators are flashing green. The RSI is now back above the neutral line at 52 after briefly dipping, a sign that buyers are in control.
The MACD line tells a similar story, maintaining its lead on the signal line despite a slight hiccup, signalling a strong short-term uptrend taking root.
If this momentum holds, the wedge breakout targets past resistance at $0.25 for a potential 25% gain.
Should this level flip to support, the rally may extend toward the mid-July high at $0.2875 in a 38% gain, clearing a path for a continuation of the bull run.
Traders Don’t Need To Wait For the Bull Run to See Gains
Dogecoin could be on the cusp of another bull run, but the market hasn’t fully priced in the impact of reciprocal tariffs following the U.S. duty hike set for August 7—HODLing here is still a high-risk bet.
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