The DOGE bull run could be in for a continuation, as popular pseudonymous analyst Cantonese Cat cites “great risk-reward” on the Dogecoin price outlook.
While macro uncertainty has dulled enthusiasm for riskier plays like meme coins, an 8% weekend bounce could signal the start of a new DOGE uptrend.
With the “reciprocal” tariff pause now over and higher duties on 92 countries set to take effect August 7, risk-on sentiment has been weakened amid fears of a mid-2025 bear market repeat.
However, speculation around a potential September rate cut remains high, with the potential to stimulate new inflows into risk assets like cryptocurrencies as the cost of borrowing lowers.
Is Dogecoin Ready for A Reversal?
In response to previous post shared on X, Cantonese Cat added that Doge displays “great risk-reward here and that I’ll do what I can to buy.“
I bought a little bit more $DOGE and #Fartcoin last night, but you pretty much knew that I think it's great risk-reward here and that I'll do what I can to buy anyway. https://t.co/ccUByCNFnh
— Cantonese Cat
(@cantonmeow) August 3, 2025
The post in question noted how the Dogecoin price had broken the ”bear market trendline” that has held it in downtrend since late July, now retesting a ”bull market” support band.
Coinglass derivatives data shows speculative demand picking up again, with Open Interest up 2.43% today to $3.15 billion, traders are actively following price moves.
Exchange data shows these traders are positioning for a bullish continuation, with a Binance Long/Short Ratio of 2.98, 75% of traders positioning long.
Dogecoin Price Analysis: Is the Bull Market Ready to Continue?
The breakout from the “bear market trendline” noted by Cantonese Cat feeds into a broader falling wedge pattern, acting as the upper boundary to its consolidation.
A successful back-test of this trendline has now confirmed it as support, marking a higher low and validating the wedge breakout structure.
Momentum indicators are flashing green. The RSI is now back above the neutral line at 52 after briefly dipping, a sign that buyers are in control.
The MACD line tells a similar story, maintaining its lead on the signal line despite a slight hiccup, signalling a strong short-term uptrend taking root.
If this momentum holds, the wedge breakout targets past resistance at $0.25 for a potential 25% gain.
Should this level flip to support, the rally may extend toward the mid-July high at $0.2875 in a 38% gain, clearing a path for a continuation of the bull run.
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