Benzinga - Cryptocurrency analyst Ali Martinez on Saturday said that Dogecoin (CRYPTO: DOGE) has successfully cleared all major resistance levels, and he sees the meme cryptocurrency surging 40% in the last 24 hours.
What Happened: Martinez has identified the price point of $0.095 as a pivotal support level for Dogecoin.
"With the $0.095 support proving strong – thanks to 63,280 addresses buying 3.2 billion $DOGE – the path looks set for an upward journey. If this support remains firm, we could see #DOGE aiming for $0.14 next," the analyst tweeted.
#Dogecoin has successfully cleared all major resistance levels!With the $0.095 support proving strong – thanks to 63,280 addresses buying 3.2 billion $DOGE – the path looks set for an upward journey. If this support remains firm, we could see #DOGE aiming for $0.14 next. pic.twitter.com/QmfZ9kY5Dh
— Ali (@ali_charts) December 8, 2023
The chart shared by analysts shows over 3.19 billion DOGE acquired between $0.094 tp $0.097 levels by 63,000 addresses.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Last week, another pseudonymous cryptocurrency analyst Captain Faibik said the Dogecoin is rallying and is ready to pump by 700% massively. “DOGE train has already left the Station.. An epic pump Incoming..”
The analyst shared a chart depicting a potential climb for Dogecoin from its current price of $0.088 to a target of $0.70. Should Faibik's predictions come to pass, this would result in an increase of over 700% by July 2024.
Price Action: At the time of writing, DOGE was trading at $0.099, down 1.21% in the last 24 hours, according to Benzinga Pro.
Photo by Vitalii Stock on Shutterstock
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