 
 
Dogecoin, the leading memecoin, is poised to witness a long-term rally that is especially notable because it could send the asset to never-before-seen levels. As market data suggests, the memecoin is poised to reach a new price point, but it faces significant obstacles.
As displayed on the weekly timeframe in DOGE’s technical chart, the asset displayed a bullish signal after it successfully broke above the $0.259 price mark. The move, attained in the second half of July, could not be sustained as bulls failed to preserve the momentum.
Nearly four weeks later, DOGE bulls are struggling to make a comeback, with the $0.20 level serving as a floor. Despite remaining range-bound within the aforementioned price level, with no technical signal suggesting an incoming recovery, fundamental factors are leaning in a bullish direction.
More specifically, whale activity has intensified as big whales utilized the dip as a buying opportunity. Additionally, the DOGECOIN technical chart shows that RSI has crossed 50, signaling an increase in buying pressure.
However, the road ahead remains tricky for DOGE, which was unable to stay above the $0.35–$0.45 region attained earlier in the year. Nonetheless, $1 appears attainable in the long term if the asset reclaims previous support and carries on the uptrend into the last quarter of the year. The growth rate, however, must reflect in the asset’s market cap valuation, which is lagging behind its long-standing competitor Tron (TRX).
 
At the time of this reporting, DOGE is trading at $0.23 and has lost over 0.93% of its value over the last 24 hours. This decline mimics other leading altcoins, most of which are trading in the red at this time. The memecoin is now valued at a press time price of $0.23.
Source: https://zycrypto.com/1-doge-still-in-view-for-dogecoin-but-resistance-remains-a-key-barrier/