The analyst has detected a bullish signal for Dogecoin.
Whales bought 90 million DOGE in the last two days.
The decline in Bitcoin prices is raising concerns.
In the cryptocurrency market, the popular meme token Dogecoin ($0.326079) is showing signs of a resurgence. Well-known analyst Ali Martinez said that he expects a recovery in the price of Dogecoin in the near future. Martinez noted that the technical analysis tool Tom DeMark (TD) Sequential Indicator has provided a significant buy signal for DOGE.
Ali Martinez stated in his post on social media platform X that the TD Sequential Indicator gave a buy signal on Dogecoin’s four-hour chart. The analyst stated that this indicator usually detects turning points in price trends in advance. “TD Sequential shows that the Dogecoin price may recover,” Martinez said, adding that this data created a positive atmosphere in the market.
Martinez also emphasized that the recent large-scale whale movements in Dogecoin have been remarkable. The analyst noted that large investors have made purchases exceeding 90 million DOGE in the last two days. Such purchases may be an indication that market participants are confident in future price increases.
Despite the optimistic outlook for Dogecoin, concerns about the decline in Bitcoin (BTC) prices continue. Ali Martinez said that investors should be careful if Bitcoin falls below $92,730. Based on Glassnode data, Martinez noted that Bitcoin’s next support level is around $69,000. However, he warned that a 20% to 30% drop in BTC could occur beyond these levels.
These analyses reveal that the market is shaped by major investor movements and technical indicators. Dogecoin is currently trading at $0.314, while Bitcoin is at $94,671. It is of great importance for investors to develop strategies by paying attention to market conditions and analysts' recommendations.