Dogecoin is struggling to gain momentum despite recent bullish signs. On a weekly chart, its attempt to break above $0.259 in July failed, and it has since been stuck with $0.20 acting as a support level. Trading volume remains weak, preventing a strong rally.
Interestingly, Dogecoin whales are showing confidence by buying during price dips, and some technical indicators like the RSI and OBV suggest growing buying pressure. However, the coin is lagging behind its peers, as both Bitcoin and Binance Coin have hit new all-time highs.
For Dogecoin to reach a long-term goal of $1, it needs to reclaim the $0.35-$0.45 support zone. A $1 price would give it a $116 billion market cap, putting it on par with major players like BNB. The ambitious dream of reaching $5 by 2030 would require massive growth in adoption and utility, moving it beyond its current status as a hype-driven asset.
Ultimately, Dogecoin remains a high-risk, high-reward investment. Its community and decentralized nature are its key strengths, but its future hinges more on sentiment and hype cycles than on clear utility or fundamental growth. The $1 target is not impossible, but it is currently more a bet on culture than on fundamentals.
August 2025, Cryptoniteuae