Hey, crypto people! Things are getting interesting with Dogecoin (DOGE), and I'll tell you why! The most famous memecoin is seemingly resurrected from nowhere, and that has us all wondering if it'll be able to break that $0.19 barrier. Let's see what's cooking! 🐕‍🦺🚀

It turns out that DOGE had a bounce like no other, exiting the support zone like the devil was after it! And this is no joke, because people’s interest in trading DOGE shot up 15.78% in futures contracts, reaching $2.09 billion! 🤯 And if that wasn’t enough, the volume of options (which is like betting on the future price) soared 402%! This means that people are putting money in like crazy, thinking that DOGE is going to skyrocket, aiming for that famous $0.19 and maybe even $0.26 if it keeps going strong!

Will he have the strength to overcome the resistance?

DOGE has emerged from its hiding place between $0.13 and $0.15, with bullish pressure palpable in the air. The Stochastic RSI, which measures price strength, has already surpassed 80! That's a sign things are headed up. But beware, there's a resistance line near $0.19 that won't let it pass so easily. If it manages to close a daily candle above that line, then the party would really begin, and DOGE could go all the way to $0.26! 🎉 But if not, it remains in limbo, between a rock and a hard place. Those betting on the rise must keep putting money in so that DOGE doesn't deflate.

The whales are back and their pockets are full! 🐋💰

After several weeks of Dogecoin cash flowing like water, things have changed! DOGE saw a net inflow of $8.23 million, meaning whales (those investors with tons of money) are buying again! When whales start accumulating, DOGE's price historically tends to rise. So, this cash injection is a good sign and could help DOGE maintain its momentum toward $0.19. But beware! If the whales pull back, the momentum could be as short as a breath.

How can Dogecoin continue to rise?

Dogecoin's MVRV Z-Score, which measures how profitable DOGE holders are, has rebounded to 0.355 after hitting rock bottom in late June. This tells us that DOGE is emerging from a state of "undervaluation," meaning it was cheaper than it was worth. While it's not yet at full-blown boom levels, if it continues to rise, it could encourage more people to buy, putting more upward pressure on the price. This is like when something that was once free starts to rise in price and everyone wants a piece.

And why aren't people using it as much? 📉

Here's the fun fact: even though DOGE's price is rising, network activity is actually dropping significantly! Daily active addresses dropped to 33,700, and the number of transactions to 14,800. That's a huge drop from the 500,000 we were seeing on June 22! This could mean that ordinary people aren't that involved in the day-to-day trading of DOGE. But the good news is that, in the past, DOGE's price has always risen first, and network activity follows. So if the price keeps rising, people will likely go back to using it like before.

Will DOGE reach $0.19 and surpass it?

The truth is, things are looking good: strong support, interest in futures contracts, and the return of whales are creating a positive environment for DOGE to continue rising. But the key is whether those betting on the upside can break through that resistance near $0.19. If they do so with good trading volume, the path to $0.26 would be clear! But for now, the momentum is like a seesaw, and bulls need to keep putting in the effort to keep it going.

Will DOGE surprise us and take off, or will it remain stuck in the resistance? Stay tuned, people, this is getting good! 😉$DOGE