Benzinga - Crypto analyst Ali Martinez has expressed optimism about Dogecoin (CRYPTO: DOGE), noting that it is breaking out from a multi-year descending triangle on the DOGE weekly chart.
What Happened: According to the analyst, this breakout, along with a buy signal from the TD Sequential indicator, reinforces the bullish outlook for DOGE.
#Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces #DOGE bullish outlook. pic.twitter.com/ao7VXyxaEa— Ali (@ali_charts) October 29, 2023
"Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces DOGE bullish outlook," the analyst noted.
At the time of writing, DOGE was trading at $0.0687.
Another analyst Crypto Tony, also talked about DOGE, stating that a weekly closure above a particular trendline would mark the first time in 700 days. He mentioned the rising popularity of meme coins such as Floki (CRYPTO: FLOKI) and the Pepe Coin (CRYPTO: PEPE), highlighting their potential in the memecoin market.
$FLOKI / $DOGE pumping and looking good, setting. atone for the #Memecoin marketThe OG $PEPE / @pepecoins catching a bid here. Flip this resistance level and we pumping