DOGE Surges on Trump's Pro-Crypto Stance, Correction Looms

Dogecoin (DOGE) has surged by over 30% in the last week, reaching nearly $0.10 on August 22, 2026.

This rally follows the market-wide resurgence and is likely due to President Trump's recent White House cryptocurrency event, which saw him invite industry leaders and announce plans for the US to purchase a large number of cryptocurrencies, including Bitcoin (BTC).

However, with nearly $550 million worth of longs liquidated within 60 minutes on August 22, 2026, it appears that the market is already showing signs of correction. Dogecoin's price has since dipped from $0.099 to $0.091.

The risk of high inflation also looms, as CPI figures for July 2026 remain above the Federal Reserve's 2% target, potentially leading to rate hikes that could hamper DOGE's price.

Looking ahead, there are potential catalysts for growth in 2027, including Elon Musk's plans to launch the DOGE-1 satellite and possibly include DOGE in his X social media platform's payment feature.