Crypto analyst Ali Martinez has remained right on Dogecoin this year. As the DOGE price skyrocketed from $0.15 to $0.42 this month, it proved his bullish outlook wasn’t just wishful thinking. The price has since pulled back, currently sitting at around $0.36.
If we look at Dogecoin’s weekly chart, we can see quite a journey. Early 2021 is when things really took off – social media was talking about it non-stop, and Elon Musk’s tweets sent the price soaring. This wasn’t just another crypto bull run – it was when Dogecoin became a household name.
But what goes up must come down. After hitting a high in May 2021, DOGE settled into a quieter period in 2022 and 2023. The price remained largely unchanged and the social media buzz died down. It is normal to see this cooling off period after such intense speculation.
The latest price action in 2024 tells an interesting story. While DOGE is rising again, it feels different this time. Social media is not as excited about it as it was in 2021, despite some solid moves. The market appears to be testing old resistance points from early 2022.
During the quiet period, DOGE has found reliable support between $0.10 and $0.15. $0.30 used to be a ceiling, but it may now be more of a floor. Breaking above $0.50 would be a big deal — it’s been a tough number to break through since the 2021 bull market.
What makes this rally interesting is that the price is rising without the intense hype we have seen before. This could actually be healthier for DOGE in the long run, although like anything in crypto, things can change quickly and previous patterns do not tell us what will happen next.
