finbold.com
As meme cryptocurrency Dogecoin ($DOGE) continues to defend the $0.20 support, an analyst has observed that the token is building the ideal path toward reaching $0.50.
According to Ali Martinez, investors should watch the critical $0.29 level. A decisive break above this resistance could pave the way for an extended rally, he noted in an X post on September 10.
The analysis, based on the daily chart, shows $DOGE trading in a tight range between $0.21 and $0.27 for much of August and early September.
Notably, the token has repeatedly tested the $0.27 and $0.29 resistance zone, which has proven difficult to overcome in recent months. Should $DOGE manage to breach this barrier, Martinez’s outlook suggested that the breakout could generate momentum strong enough to double its value, with the next notable resistance only appearing near $0.50.
At the same time, the token’s support levels remain clustered around $0.21 and $0.17, which have held firm during prior pullbacks. This structure indicates that $DOGE has established a relatively solid base, though failure to maintain support could see it revisit lower levels.
$DOGE’s strengthening fundamentals
This technical setup coincides with strengthening fundamentals that could further fuel Dogecoin’s price growth. For instance, the first U.S. Dogecoin ETF, the Rex-Osprey DOJE fund, is set to debut on September 11, 2025, under the stricter Investment Company Act of 1940.
Market watchers see this launch as ushering in a new meme coin ETF era and expect it to broaden institutional access to $DOGE.
In addition, CleanCore Solutions has established an “official” Dogecoin treasury, raising $175 million to acquire $DOGE as its primary reserve asset. At the same time, Grayscale has introduced a dedicated Dogecoin Trust for accredited investors.
Together, these developments mark a shift in how the token is treated within institutional finance, potentially bolstering liquidity and reducing supply in circulation.
$DOGE price analysis
At press time, $DOGE was trading at $0.25, up about 1.2% in the past 24 hours, while on the weekly timeframe, the asset had gained 14%.
With Dogecoin seemingly regaining bullish momentum, the most important level to watch remains the $0.20 support, as losing it could trigger renewed losses.
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