Crypto analyst Ali Martinez keeps getting it right with Dogecoin this year. When the DOGE price shot up from $0.15 to $0.42 this month, it proved his positive outlook wasn’t just wishful thinking. The price has pulled back since then, now sitting at around $0.36
If we look at Dogecoin’s weekly chart, we can see quite a journey. Early 2021 was when things really took off – social media couldn’t stop talking about it, and Elon Musk’s tweets sent the price soaring. This wasn’t just another crypto rally – it was the moment Dogecoin became a household name.
But what goes up must come down. After hitting those highs in May 2021, DOGE settled into a quieter phase through 2022 and 2023. The price stayed mostly flat, and the social media buzz died down. It’s pretty normal to see this kind of cooling-off period after such intense speculation.
https://twitter.com/ali_charts/status/1858174255495807099
The latest price movement in 2024 tells an interesting story. While DOGE is moving up again, it feels different this time. Social media isn’t as wild about it as it was in 2021, even though the price has made some solid moves. The market seems to be testing old resistance points from early 2022.
Throughout the quiet period, DOGE found reliable support between $0.10 and $0.15. The $0.30 mark used to be a ceiling, but now it might be more like a floor. Getting past $0.50 would be a big deal – that’s been a tough number to crack since the 2021 bull market.
Read also: Kaspa (KAS) Price Movement Signals Potential Breakout – Key Levels to Watch
What makes this run interesting is how the price is moving up without all the intense hype we saw before. This might actually be healthier for DOGE in the long run, though as with anything in crypto, things can change fast and previous patterns don’t tell us what will happen next.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Not Just Memes: Why Dogecoin’s Popularity and $DOGE Price Still Have Room to Grow appeared first on CaptainAltcoin.
