Dogecoin closed August with a 10% gain at $0.21, significantly outperforming Bitcoin’s 6% decline while experiencing a dramatic 150% surge in trading volumes.
Dogecoin DOGE $0.21 24h volatility: 3.2% Market cap: $31.97 B Vol. 24h: $1.51 B price gained renewed momentum on Monday as trading volumes jumped 150%, following the meme coin’s 10% monthly gain in August that outpaced Bitcoin’s BTC $110 082 24h volatility: 1.6% Market cap: $2.19 T Vol. 24h: $35.97 B 6% decline. The weekend’s muted activity gave way to heightened market interest as DOGE closed August at $0.21.
Derivative data reinforces the recovery in traction as Coinglass reported that DOGE futures volumes jumped 119% to $5.36 billion, while open interest fell 4.7% to $3.24 billion.
The decline in open interest suggests strategic reshuffling, particularly from bullish traders who closed $7.61 million in long contracts, compared with just $2.41 million in shorts.
Dogecoin Derivatives Market Analysis | Coinglass, September 1, 2025
In the derivatives market, Coinglass data further confirms the resurgent Dogecoin market interest. As seen above, DOGE futures trading volumes rose 119% to $5.36 billion, though open interest dipped 4.7% to $3.24 billion.
This suggests aggressive position reshuffling rather than complete capitulation as liquidation heatmaps show that short-sellers remained dominant on Monday, with $262 million in leverage, overshadowing $172 million in long exposure.
However, a crucial detail stands out as the largest concentration of leverage is clustered at $0.21, where bull traders deployed $42 million in longs over the past week.
This level has emerged as a critical support zone for Dogecoin price action as Bitcoin led crypto market-wide corrections in the last week of August. If sustained, this base could provide the momentum for a decisive upward move heading into September.
Dogecoin Price Forecast: Analyst Predicts 900% Rally
Prominent market analyst DogeLord told his 12,500 followers on Sunday that a “propulsion candle” looks imminent, hinting that September could emerge as a major breakout month for Dogecoin price.
His long-term chart projection places Dogecoin on the cusp of a move that could propel prices back to all-time highs, signaling that sustained hold above $0.21 could fuel a rally to the $0.34 resistance zone, with further breakout towards the current global peaks near $0.75.
$DOGE monthly: a propulsion candle looks imminent — September could be the one. #Dogecoin #Doge pic.twitter.com/DCVaGMEJ5r
— Doge Lord (@DogeLord) August 31, 2025
Beyond that, the chart projects a possible retest of prior all-time highs above $2, implying a rally of up to 850% from DOGE’s current price levels.
On the downside, failure to maintain the $0.21 support could expose DOGE to downside risk toward $0.17, with stronger support at $0.13. A break below those levels would likely delay any bullish momentum until another bull cycle kicks off.
With traders heavily clustered at $0.21, the coming weeks will test whether bulls can convert leveraged positioning into a September breakout, or if short sellers will press for further correction.
Best Wallet Presale in Demand as Dogecoin Traders Diversify
Dogecoin’s resurgent trading volumes on Monday have fueled broader market participation, with investors increasingly seeking exposure to multi-chain projects like Best Wallet (BEST).
Best Wallet Presale
The project has raised more than $15 million in its ongoing presale, offering low transaction fees, competitive staking yields, and early access to decentralized apps. With built-in compatibility for Dogecoin, Bitcoin, and other major tokens, Best Wallet is emerging as a preferred choice as traders navigate volatile markets.
With discounted entry tiers still available before the next price increase, participants can secure BEST tokens directly via the official Best Wallet platform.
next