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Dogecoin (DOGE) could be poised for a price increase based on multiple metrics, according to Crypto Analyst

Dogecoin (DOGE) could be poised for a price increase based on multiple metrics, according to Crypto Analyst

Vaseline 2 weeks ago

A slew of statistics indicate that Dogecoin (DOGE), the top meme asset, could be poised for a price surge, according to a popular crypto trader.

Analyst Ali Martinez tells his 72,500 followers on social media platform

The RSI indicator is a momentum oscillator used to determine whether an asset is oversold or overbought. The values ​​of the RSI range from zero to 100, with the level between 70 and 100 indicating that an asset is overbought, while the level from zero to 30 indicates that an asset is oversold.

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Source: Ali Martinez/X

Martinez also notes that DOGE gave a buy signal on its Supertrend Indicator, which provides buy and sell signals based on price action and volatility.

Furthermore, the analyst points out that Dogecoin whales have purchased more than 1.40 billion DOGE worth approximately $140 million in the last 48 hours.

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Source: Ali Martinez/X

He also says that Dogecoin has crossed its resistance at $0.111, where 62,270 addresses hold more than 36 billion DOGE.

“If DOGE holds this level, it could confirm a bullish breakout. With no major supply walls in sight, the path to $0.150 seems clear!”

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Source: Ali Martinez/X

DOGE is trading around $0.117 at the time of writing. The ninth-ranked crypto asset by market capitalization is up more than 5% in the past 24 hours.

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