Is DOGE hitting 1 dollar? Strong support at 0.21 dollars triggers the September moon market.

Dogecoin (DOGE) has gained solid support around $0.21, leading to a rapid recovery in market sentiment. Technical charts indicate that this price level could serve as the launch platform for the next wave of pumps, while September may bring multiple catalysts, including expectations of U.S. interest rate cuts and potential Spot DOGE ETF news, providing fuel for a price surge to $1.

0.21 USD becomes a bullish support line as bullish pattern forms

(Source: Trading View)

Since the end of July, the price of DOGE has formed a bullish triangular flag pattern on the daily chart, quickly stabilizing after recently retesting the $0.21 support. Historical data shows that this price level has often become a rebound starting point, providing strong psychological support for the bulls.

On the technical side, the RSI indicator has risen from 46 to the neutral line of 50, indicating that buying power is strengthening; the MACD line is flattening and slightly leading the signal line, which is usually an early signal of weakening selling pressure and a trend reversal.

Short-term Resistance and Breakthrough Target

(Source: Trading View)

If DOGE successfully breaks through the upper trendline of the triangle flag, the first key resistance level will appear at $0.245. After breaking through this range, the price is expected to accelerate upward, challenging the target of $0.38, which means an increase of about 75% from the current price level.

If market momentum continues, this round of pump may even extend to $0.49, recovering the high point at the end of 2024.

September rate cut expectations may become the biggest catalyst

On the macro level, the market generally expects the Federal Reserve to initiate interest rate cuts in September, with a total of four cuts expected by the end of the year. A rate-cutting environment is typically favorable for risk assets, and funds may flow from traditional markets into cryptocurrencies, especially tokens like DOGE that have high liquidity and active communities.

With only 15 days left until the next FOMC meeting, investors are closely watching for policy signals. Once a rate cut is confirmed, DOGE may usher in a new wave of capital influx.

DOGE ETF decision may trigger a $1 market

In addition to the interest rate cut expectations, the approval results of the Spot DOGE ETF in mid-October are also attracting attention. If approved, it will open a channel for traditional financial (TradFi) investors to directly hold DOGE for the first time, which could bring significant new demand.

Some analysis forecasts that under the dual benefits of interest rate cuts and ETFs, DOGE is expected to achieve a pump of up to 365% in the coming months, ultimately challenging the 1 dollar mark.

Conclusion

DOGE is standing on the threshold of a potential major market movement. The support level at 0.21 USD, the bullish triangle pattern, the expectation of a rate cut in September, and the DOGE ETF decision create multiple drivers for price appreciation. Although it still needs to break through the resistance at 0.245 USD in the short term, if the bullish momentum continues, the "moon landing plan" at 1 USD may no longer be just a community slogan. Investors should closely monitor macro policies and on-chain data changes to prepare for possible breakout trends.