This Meme Coin Is On The Verge Of Starting An Uptrend, According To Analyst: 13% Rally Is Possible!

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According to analyst Ali Martinez dogecoin It is ready to start a new uptrend and could rise 13% to $0.07.

Dogecoin (DOGE) recently crypto- has attracted increasing interest from market participants. According to CoinMarketCap data, DOGE is up nearly 6% in the last 24 hours and 7% in the past week.

In parallel, its 24-hour volume increased by 142.09% compared to the previous day’s volume. Specifically, crypto investors bought and sold nearly half a billion dollars worth of DOGE, with a total trading volume of $413,589,293.

Dogecoin is Ready to Start the New Uptrend

While DOGE’s price is at $0.06414, well-known crypto analyst Ali Martinez meme coinHe believes it could go as high as $0.07. In a recent tweet, Martinez argued that Dogecoin’s bearish days are potentially over.

To the graphics expert according to“Dogecoin looks ready to start a new uptrend.”

The leading analyst based DOGE’s bullish outlook on recommendations derived from technical analysis of Dogecoin’s weekly time frames. He specifically referred to TD Sequential, an indicator for identifying potential turning points in the market.

Experts use TD Sequential to recognize signs of an exhausting trend where an asset price is reversing from bearish or bullish performance.

In this case, Martinez believes that Dogecoin bears are already losing ground. According to him, based on the weekly chart, Dogecoin’s TD Sequential has presented a buy signal.

As a result, the chartist argues that if DOGE sustains a price above $0.062, it will reach $0.07 with a significant 13% rally.

Koinfinans.com As we reported, DOGE was trading just below $0.0612 when the analyst made the forecast. Considering that DOGE has already climbed above $0.062 to reach $0.06414, Dogecoin could conquer the two-month high as predicted by the analyst.

It is worth noting that DOGE’s current price represents a decline of over 91% from its 2021 all-time high.

Meanwhile, market tracker IntoTheBlock reported a significant decline in average daily transactions on the Dogecoin network.

Dogecoin’s seven-day average transactions are currently hovering around 37,300, down from the 2.1 million daily average recorded in June.


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