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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