Dogecoin (DOGE) has drawn an upside forecast toward $0.10 depending on whether Bitcoin breaks above $80,000.

Overseas crypto media outlet CoinGape projected that if Bitcoin rises above $80,000 and holds that level as support, Dogecoin could climb to $0.10. According to CoinGape, Dogecoin recently traded around $0.083.

■ Bitcoin Hits 14-Week High…Short Liquidations Also Fuel the Rally

Bitcoin rose to $79,200 during its recent climb before moving around $77,500. CoinGape reported that Bitcoin gained more than 20% over the past week, its largest weekly gain since March 2023. With this rally, Bitcoin rose to around $79,000, its highest level in about 14 weeks, before the upward momentum somewhat subsided.

Bull Theories stated on August 21 (local time) that Bitcoin could record its largest weekly gain since March 2023.

According to CoinGape's report, continued liquidations amid the bear market also fueled Bitcoin's rise. More than $1 billion in short positions incurred losses over 24 hours, with the total over four days estimated at $4.3 billion.

■ Breaking $80,000 and Holding It as Support Is Key

CoinGape noted that Bitcoin is currently facing resistance around $80,000, a level that previously served as both support and resistance. The explanation is that if the market breaks through this level and closes above $80,000 on a weekly basis, the bullish trend could strengthen further.

CoinGape said that when risk appetite improves across the crypto market, Dogecoin has sometimes posted higher gains than Bitcoin. It projected that if Dogecoin rises an additional 6–10%, its price could reach the $0.09–$0.093 range. In particular, it forecast that if Bitcoin breaks above $80,000 and does not immediately fall back, Dogecoin could rise to that level.

■ ETF Inflows…Institutional Demand Returns

According to CoinGape, spot Bitcoin exchange-traded funds (ETFs) saw inflows for three consecutive trading days, signaling renewed institutional demand. On the most recent trading day, BlackRock's IBIT took in $285 million, with total inflows amounting to $517 million.

Dogecoin ETFs saw inflows of $654,420 on August 20 (local time). According to data cited by CoinGape, cumulative inflows stood at $12.29 million, net assets at $11.49 million, and trading volume at $1.65 million. Bitcoin-related products saw approximately $1 billion in inflows over those three trading days.

CoinGape also cited a Wall Street Journal report that $1.6 billion flowed into Bitcoin ETFs over the four days from Monday to Thursday. CoinGape explained that such inflows, a negative atmosphere surrounding regulators, and a weaker dollar have supported prices.

■ Fear and Greed Index at 71, 'Greed'…Watch for Money Rotating into High-Risk Tokens

The crypto Fear and Greed Index rose to 71, reentering the 'Greed' zone. CoinGape forecast that as sentiment improves, investors may shift their profits into Dogecoin and other high-risk tokens.

■ Dogecoin's Technical Levels: $0.086 → $0.09 → $0.10

According to CoinGape's analysis, Dogecoin needs to rise about 18% from $0.085 to reach $0.10. Therefore, Bitcoin merely touching $80,000 may not be enough to generate sufficient demand. CoinGape analyzed that for a stronger uptrend to emerge, Bitcoin must break above $80,000 and turn it into a new support level. In that case, there could be room for funds to rotate into altcoins and meme coins.

Dogecoin must first overcome resistance around $0.086 and then break through the psychological resistance at $0.09. According to CoinGecko data cited by CoinGape, trading volume exceeded $1.4 billion, showing renewed market activity.

CoinGape projected that if Dogecoin breaks above $0.09, it could move toward $0.10 via $0.095. It also analyzed that if a daily close forms above $0.10, there is room for further gains up to $0.11 and $0.12. Rising from $0.085 to $0.12 would require roughly a 40% increase.

Conversely, CoinGape said that if the price falls below the key range, it could drop to $0.075 before the next recovery attempt. For now, CoinGape's outlook is that $0.09 is most likely the first target, and if the uptrend continues, $0.10 could come into view afterward.

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