Dogecoin (DOGE) is expected to skyrocketed almost 10% in the near future, claims crypto analyst Ali Martinez.
By Parth Dubey
Edited by Marco T. Lanz
Updated
3 mins read
Dogecoin DOGE $0.16 24h volatility: 3.4% Market cap: $23.80 B Vol. 24h: $907.94 M , the largest meme coin by market capitalization, is poised for massive gains as the first month of the year ends. According to analysts, the meme coin could soon skyrocket as investors take advantage of the cryptocurrency’s recent dip. Known for being Elon Musk’s favorite digital asset, DOGE is the only meme token ranked in the top 10.
According to the data provided by CoinMarketCap, DOGE is trading at $0.3339 at the time of writing, up 2.46% in the past 24 hours. The daily high for the altcoin stands at $0.338, but it is facing significant resistance toward $0.34. The meme token is down around 54.59% from its all-time high of $0.7376 seen over four years ago, despite soaring 310.02% in the past year.
Meanwhile, prominent analyst Ali Martinez highlighted in a post on X (formerly Twitter) that Dogecoin has broken out of a symmetrical triangle, which is a bullish indication for prices. The crypto analyst predicted an almost 10% gain for the altcoin, forecasting that DOGE will hit $0.36 in the coming days.
Source: Ali Martinez
“Trader Tardigrade” predicted on X that investors could see a six-month rally just like the one seen at the beginning of 2021. The crypto analyst showcased how the current price trajectory of Dogecoin is similar to the one seen in 2021 while also bringing to attention the meme coin’s cyclic parabolic surges. A bullish cycle was seen between 2015 and 2018, another between 2019 and 2021, and finally, the third cycle could begin in 2025.
#Dogecoin could see a similar 6-month Rally 🔥
A comparable $DOGE structure emerged in the previous cycle. pic.twitter.com/m6zTs05HO0— Trader Tardigrade (@TATrader_Alan) January 30, 2025
Additionally, another crypto analysis pointed out that Dogecoin is testing the Fibonacci support zones and preparing for a strong reversal, also posting the chart below. If DOGE retests $0.24 and skyrockets, the altcoin has three targets: $0.49784, $0.58185, and $0.66228.
On the other hand, the Relative Strength Index (RSI) for the Dogecoin price action on the daily chart below reads a value of 44.95 which means that the bears are currently in control of the meme token’s price action. However, the gradient of the line suggests a surge in buyers’ demand for the altcoin.
The MACD indicator remains bearish for DOGE, but the MACD line (blue) is gaining up on the signal line (line), and the chances of a bearish divergence are increasing. The bearish intensity of the MACD histogram is also decreasing, aligning with the sentiment provided by the RSI indicator.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
