Dogecoin (DOGE) followed the market-wide resurgence over the last few days, climbing to just shy of 10 cents on August 22, 2026. CoinGecko data shows that DOGE’s price has rallied by ore than 30% in the last week and 32% over the last month. Let’s discuss what awaits the memecoin next. Can it continue its rally, or will it face a correction soon?
Can Dogecoin Reclaim The 10 Cent Price Level, Or Will It Dip Again?
Dogecoin (DOGE) began its upward movement after President Trump’s recent White House cryptocurrency event. President Trump invited several CEO and founders from the industry to further push his administration’s pro-cryptocurrency stance. Trump also stated that the US plans to purchase a large number of Bitcoin (BTC) and other cryptocurrencies. The event led to a surge in investor sentiment. Dogecoin (DOGE), too, was a beneficiary of the larger market rebound.
While the rally was welcome and brought substantial relief to many investors, the market is already showing signs of a correction. Nearly $550 million worth of longs were liquidated within 60 minutes on Saturday, August 22, 2026. Bitcoin (BTC) climbed to $79,000, but has since fallen to $77,000. Dogecoin (DOGE) is also following a similar trend. The memecoin hit $0.099, but has since dipped to $0.091.
There also remains the risk of high inflation. CPI (Consumer Price Index) figures for the US have dipped for the month of July 2026, however, the figure remains well over the Federal Reserve’s 2% target. There is a chance that the Fed will raise rates sometime this year. Higher rates may hamper Dogecoin’s (DOGE) price as investors often take less risk when rates are high.
Also Read: XRP’s Meteoric Rise: $1,000 Turned $1,500 in 7 Days
However, things could change for Dogecoin (DOGE) in the coming year. Elon Musk has stated that SpaceX may launch the DOGE-1 satellite sometime in 2027. Moreover, Musk’s X social media platform may include DOGE in its payment feature. Both developments could propel DOGE beyond the $1 mark.
Credit: Source link