Summary Dogecoin price today trades at $0.215, with $0.21 as the key pivot for September. On-chain flows show $18.14M in outflows, while futures volumes surged 119% in August. A $200M treasury chaired by Elon Musk’s lawyer adds institutional credibility to Dogecoin. Dogecoin ( DOGE-USD ) is consolidating near a pivotal level, with price action balancing technical defenses against persistent outflows. The confirmation of a $200 million treasury has added a new institutional layer to the narrative, but traders remain cautious as flows and futures volumes show mixed positioning. Dogecoin's price today trades at $0.215, hovering above the $0.21 floor where the 20-, 50-, 100- and 200-day EMAs all cluster. This tight convergence reinforces $0.21 as the market’s pivot. DOGE price forecast (Source: TradingView) Fibonacci levels frame $0.215 as the 0.236 retracement, with $0.226 marking the first resistance. Momentum remains neutral, with RSI at 47. Bulls need a break above $0.226 to target $0.238–$0.25, while failure to hold $0.21 risks exposure to $0.19 and $0.17. Net outflows pressure sentiment despite futures surge On-chain data shows a net outflow of $18.14 million on September 4, extending a series of exchange outflows that capped rallies above $0.23. These flows suggest traders are still moving DOGE into exchanges to sell, limiting upside momentum. Yet, leveraged positioning tells a more complex story. Futures volumes surged 119% in August to $5.36 billion, even as open interest slipped 4.7% to $3.24 billion. Long liquidations of $7.61 million outpaced shorts, showing bulls are aggressively repositioning around $0.21, not abandoning it. Musk-linked treasury adds new layer of legitimacy Beyond trading flows, Dogecoin’s narrative is shifting. The announcement of a $200 million Dogecoin treasury chaired by Elon Musk’s lawyer, Alex Spiro, marks a major institutional-style step. Modeled after Bitcoin’s ( BTC-USD ) corporate treasury precedent, the move introduces governance and formal reserves to a community-driven coin. This comes alongside the dismissal of a Musk-related manipulation lawsuit, giving DOGE legal clarity. Together, the treasury structure and legal outcome reinforce credibility, extending the meme coin’s appeal beyond retail speculation. Outlook: September tests the strength of $0.21 The $0.21 level is decisive. A sustained defense, combined with treasury optimism, could fuel a push toward $0.238 and $0.25. A breakdown, however, risks unwinding gains back to $0.19 or lower. Previously, analysis underscored that $0.21 separates consolidation from breakdown. That remains the defining line as Dogecoin faces a critical month. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post