Dogecoin Price Eyes $0.10 as Bitcoin Nears $80K

Dogecoin price is gaining momentum as Bitcoin approaches the crucial $80,000 level, raising expectations that DOGE could soon challenge $0.10. The meme coin climbed about 5% over the past 24 hours to around $0.083, while Bitcoin traded near $77,500 after reaching a recent high of $79,200.

Bitcoin has surged more than 20% over the past week, putting it on track for its strongest weekly performance since March 2023. The rally also triggered heavy short liquidations, with more than $1 billion in short positions wiped out within 24 hours and an estimated $4.3 billion liquidated over four days.

The $80,000 level remains the key hurdle for Bitcoin price. A sustained breakout followed by a weekly close above this zone could strengthen the broader bullish trend and potentially encourage investors to rotate capital into altcoins and meme coins such as Dogecoin.

Improving institutional demand is also supporting the crypto market rally. Spot Bitcoin ETFs recorded three consecutive sessions of inflows, with BlackRock’s IBIT attracting $285 million during the latest session. Bitcoin investment products reportedly collected nearly $1 billion over three trading days and about $1.6 billion between Monday and Thursday.

Dogecoin ETFs also registered $654,420 in inflows on August 20, taking cumulative inflows to $12.29 million. Meanwhile, the Crypto Fear and Greed Index climbed to 71, returning to the “greed” zone and signaling stronger investor confidence.

For Dogecoin price to reach $0.10 from roughly $0.085, DOGE would need to gain about 18%. The token first faces resistance near $0.086, followed by the psychological $0.09 level. Trading volume exceeding $1.4 billion suggests market activity is strengthening.

A decisive DOGE breakout above $0.09 could open the path toward $0.095 and eventually $0.10. If Dogecoin secures a daily close above $0.10, the next potential targets could emerge around $0.11 and $0.12.

However, failure to maintain bullish momentum could send DOGE back toward $0.075. For now, $0.09 remains the immediate Dogecoin price target, while a sustained Bitcoin breakout above $80,000 could provide the catalyst needed for a move toward $0.10.