Polymarket traders are placing bets on where dog-themed cryptocurrency Dogecoin (DOGE) could trade by 2026's close, with the $0.06 bet gaining attention.
For the forecast of what price Dogecoin will hit in 2026, the contract for Dogecoin reaching a price of $0.06 was trading at around 28%, indicating that market participants see a meaningful possibility of Dogecoin touching this level before the year ends.
A 28% chance implies that the market is assigning this probability to the specific outcome defined by the contract; however, the odds can change quickly.
The $0.16, $0.20, and $0.24 levels carried 19%, 14%, and 12% probability at the time of writing. This suggests a significant number of traders remain optimistic about Dogecoin's climb, with DOGE trading between $0.16 and $0.24 carrying a cumulative probability of 45%.
At the time of writing, Dogecoin was trading at $0.0866 after retreating from last week's high of $0.10.
Dogecoin bullish flag emerges
According to crypto analyst Ali, Dogecoin appears to be forming a bullish flag on the hourly chart.
A bull flag is a bullish chart pattern formed by two rallies separated by a brief consolidating retracement period depicted as a flag hanging on a pole. It shows that a strong upward price trend is likely to continue after a short rest.
According to Ali, while the pattern might allow for a pullback toward the important $0.081 support, the key level to watch is $0.090. An hourly close above that resistance could trigger a breakout toward $0.115, representing about 30% upside.
The significance of the $0.081 level is that 30 billion DOGE were traded at this price level. If Dogecoin holds $0.081, Ali says the path to $0.177 has very little on-chain resistance standing in the way.
Dogecoin bulls faced a recent setback after CleanCore disclosed plans to liquidate its Dogecoin treasury holdings as part of a broader $100 million funding plan tied to a strategic move into AI infrastructure. The Nasdaq-listed company revealed in an SEC registration statement dated August 20 that it is issuing 275.8 million shares to raise $100 million.