Legacy memecoin, Dogecoin (DOGE) has seen a slowdown in its growth rate over the past month, as it grew by just 1% during that period. This sluggish momentum has been further exacerbated by the recent market downturn, which has seen Dogecoin's price drop over 12% in the past week alone, trading in a weekly price range of $0.16 to $0.14.
However, despite the recent setback, the native DOGE token has managed to maintain its leading position as the largest memecoin by market capitalization. Moreover, several crypto analysts, including Visionpaused and Kelvin Capital, are optimistic about the growth potential of legacy memecoin at any point in the near future.
Specifically, Visionpaused, using chart analysis, stated that Dogecoin's RCI lines show identical bullish run signals in 2017 and 2020. While different analysts have made similar statements, they all conclude that DOGE price could embark on another bull run that could send it into the $0.33 to $0.35 range in the near future.
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