According to U.Today, Dogecoin (DOGE) holders may soon see an end to the coin’s consolidation period, with a potential major bull run on the horizon. Crypto trader and expert Ali Martinez has shared an optimistic outlook for DOGE, revealing that he has not reduced his holdings despite the ongoing bearish market phase. Instead, Martinez has been buying the dips during this period.
Martinez provided a comprehensive price analysis and prediction for Dogecoin to his 68.1K followers on X. He explained that DOGE has been following a pattern similar to previous years. According to Martinez, Dogecoin consolidates in a descending triangle, which is evident on the price chart. Historically, after this consolidation, DOGE has experienced a significant rally of 140% to 230%, followed by a retracement of 56% to 60%. Currently, Dogecoin is in this retracement phase after a notable rally earlier this year.
Martinez emphasized that historical patterns suggest DOGE could enter a major bull run after this retracement. He advised his followers to avoid panic selling and to focus on accumulating with patience, a strategy he has been following himself. As of now, Dogecoin is trading at $0.1248, having dipped 6.18% in the last 24 hours. The 24-hour trading volume of the meme coin has increased by 5.48% to $903.45 million. Despite the recent dip, Martinez’s analysis indicates that DOGE may rebound soon.
