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DOGE DOGE is ready to go: Three reasons indicate a breakthrough is imminent.
As the broader cryptocurrency market ushers in a new wave of rising prices, the veteran memin has gained 5% in the past 24 hours. According to Ali Martinez's analysis, a number of key factors indicate that a stronger rebound may occur in the short term.
Technical signals are positive
As of press time, DOGE price is approximately US$0.087 (data source: CoinGecko), an increase of 24% in the past month. Martinez pointed out that the asset showed a Tom DeMark Sequential buy signal on the daily chart, suggesting that the memin may be preparing to resume its upward trend.
His second optimistic factor is the formation of the so-called "Morning Star Cross" pattern on the 24-hour chart. The analyst claimed that this reversal pattern usually occurs at the end of a downtrend, indicating that selling pressure may be weakening as buyers enter.
Whale activity increases buying pressure
The next focus Martinez listed is whale activity. He revealed that large currency holders have acquired more than 400 million DOGE units in the past five days,"adding meaningful buying pressure at current prices."
Analysts believe that this accumulation has consolidated an important support level of about US$0.0813 in the chain, after about 35 million units had previously been traded here. "As long as this level remains solid and the bullish pattern remains intact, the next upside targets are $0.1552 and $0.1774," he concluded.
Interestingly, earlier this week, Martinez suggested that his long-tracking $15 DOGE target had been deemed invalid due to prices briefly falling below the lower edge of the channel that defines this potential explosion theory.
Other analysts predict
Other X users who have recently made predictions for DOGE include Crypto With Gopal and Celal Kucuker. The former claimed that the memin formed a huge declining wedge pattern, with prices shrinking near the US$0.08 support area and sellers gradually losing momentum.
He claimed that a break through the upper trend line (above $0.10) could trigger a major reversal towards the $0.40 target. "Bulls are waiting for confirmation-long-term sentiment is turning bullish," the analyst added.
On the other hand, Celal Kucuker looks forward to the possibility of a 10-fold expansion in DOGE's market value, which could push prices past the $1 mark and hit a record high.
Recent exchange net flow data for this asset also supports the bullish view. Outflows have exceeded inflows in the past few days, indicating that investors have moved from centralized platforms to self-custody, reducing immediate selling pressure.
