Key Notes
- Trump-backed Thumzup acquires Dogehash in a $153 million mining expansion deal.
- DOGE rallied 12% before profit-taking pushed prices back to $0.22.
- Dogecoin’s intraday rejection aligns closely with an $81.4M short position cluster around $0.25.
After a 12% rally triggered by Trump-backed Thumzup’s multi-million acquisition of miner Dogehash, Dogecoin traded as low as $0.22 on Saturday, Aug. 23, down 2% intraday as traders began booking profits.
Thumzup, originally an ad-tech company, has pivoted toward a crypto-focused treasury business. The firm raised $50 million in July 2025 to fund mining operations and direct crypto purchases. Its $153.8 million stock-based acquisition of Dogehash Technologies adds 2,500 Dogecoin/Litecoin rigs, with plans to rebrand as Dogehash Technologies Holdings.
Thumzup recently announced an agreement to acquire Dogehash, an industrial-scale blockchain infrastructure company focused on mining Scrypt-algorithm assets such as Dogecoin and Litecoin. The combined company aims to become a leading Dogecoin mining platform.…
— Thumzup Media Corporation (@thumz_up) August 22, 2025
Regulatory filings show Donald Trump Jr. owns roughly 350,000 shares of TZUP stock worth $3.3 million, positioning him as a major shareholder. As expected, this news formed a dual catalyst with dovish Fed Chair Powell signaled rate cuts, lifting Dogecoin price 12% from $0.20 to $0.24 before retracing toward $0.23 at press time.
The 2% Saturday reversal reflects traders “selling the news” after initial excitement. Derivatives data further show short traders were incentivized to defend the $0.25 psychological barrier.
More so, in the derivatives market Dogecoin’s $185 million long positions outpaced $171 million shorts at press time, affirming the dominant bullish sentiment.
However, concentrated short activity around the intraday peaks was also pivotal to Dogecoin rapid price correction in the early hours of August 23.
Dogecoin Liquidation Map as of August 23 | Source: Coinglass
According to Coinglass liquidation maps, over $81.4 million worth of shorts are clustered around $0.25, representing the largest build-up of leverage positions in seven days. Such clusters often act as a formidable resistance, as traders strategically sell to protect positions from liquidation.
This short wall explains DOGE’s rejection near $0.249 on Friday and reinforces the “sell-the-news” narrative, capitalizing on the euphoric sentiment from Thumpzup’s acquisition of Dogehash and fresh dovish hits from the US Fed Chair.
Dogecoin Price Forecast: What Next For DOGE after Missing $0.25 Breakout Target?
Dogecoin price is currently consolidating just beneath the upper Bollinger Band at $0.2498, a level that continues to define short-term direction. A decisive close above this upper band would indicate renewed bullish momentum and set the stage for a possible breakout towards $0.30.
The Relative Strength Index is holding at 54.71, positioning the market in neutral territory. This reading signals that Dogecoin retains sufficient upside room before approaching overbought conditions, which typically come in above 70.
Dogecoin Price Forecast | TradingView
On the downside, initial support remains anchored at the middle Bollinger Band around $0.225, with deeper protection near the lower band at $0.201. A breach below $0.201 would risk reversing the current upward trend and shift sentiment toward a bear market.
On the upside, the $0.25 level continues to act as the first significant resistance. Clearing this barrier on strong volume could unlock targets in the $0.27 to $0.29 range, areas that align with previous corrections seen in early August.
Until a major breakout above $0.27 occurs, traders should expect Dogecoin to fluctuate in a narrow band between $0.22 and $0.25.
Maxi Doge Presale Surges as Dogecoin Reversal Pushes Traders to High-Leverage Alternatives
As Dogecoin (DOGE) grapples with resistance at $0.25, a new, highly speculative token, Maxi Doge (MAXIDOGE), is capturing market attention. Positioned as a high-risk, high-reward play, Maxi Doge offers an enticing 1000x leverage without a stop-loss, appealing to traders seeking amplified returns.
Maxi Doge Presale
The Maxi Doge presale is gaining rapid momentum, having already raised over $1.27 million against a $1.53 million target. With a current price of $0.000253 per token and just two days remaining before the next price hike, Maxi Doge is emerging as a potential breakout opportunity for traders looking beyond DOGE’s short-term resistance. Visit the official Maxi Doge website to get in early.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
