Dogecoin (DOGE) Might Be Primed for a 200% Surge, Predicts Analyst Ali Martinez

Historical trends indicate Dogecoin might see a significant 200% surge soon.

Dogecoin (DOGE) price analysis reveals a 1.13% gain overnight, bringing the meme coin to a trading price of around $0.11. However, a recent tweet by market analyst Ali Martinez suggests that DOGE might be preparing for a significant rally, as it appears to be breaking out of a long-standing descending triangle pattern. If historical trends hold and this pattern repeats itself, Dogecoin could be set for an impressive surge of around 200%.

Dogecoin’s Next Big Rally?

Martinez highlights a sequence of events that have played out before, which could be repeating itself once again.

History often repeats itself, and #Dogecoin might be doing just that.

A familiar pattern: breakout from a multi-year descending triangle, 200% surge, 60% retracement—then a bull run.

After a recent 65% pullback, $DOGE could be gearing up for the next big rally! pic.twitter.com/c93A4Fec7V

Crucially, breakouts from a multi-year descending triangle have led to impressive price increases—often around 200%. After reaching these peaks, Dogecoin typically experiences a significant retracement, where it loses about 60% of its value before gearing up for another bull run.

Currently, Dogecoin appears to be at a similar stage in this cycle. Following a notable price increase, the cryptocurrency recently faced a significant pullback of 65%. This retracement has sparked speculation that DOGE may be on the verge of another breakout.

Support Levels to Watch

Recent data from Intotheblock reveals that Dogecoin has regained a substantial supply of 43.72 billion coins across about 124,480 addresses after breaching the $0.108 mark. This recovery could provide a stable support base, helping to reduce selling pressure from traders who are currently in profit.

However, amid recent market corrections, Dogecoin’s price has pulled back from $0.132 to $0.10, marking a 21% decline. Geopolitical tensions, especially between Israel and Iran, have added to the selling pressure.

Analysts warn that if this trend continues, DOGE could drop another 10.5% to reach a new support level of around $0.1. If this support holds, it may set the stage for buyers to push prices back above the previous peak of $0.13.

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