According to crypto analyst Ali Martinez, Dogecoin (DOGE) may be poised for a repeat of its historical bullish pattern. Martinez highlighted that DOGE is currently breaking out of a multi-year descending triangle, a pattern that has led to significant price rallies in the past. Martinez shared a chart showing that since 2015, DOGE has followed a similar trajectory: First, it surges by 200%, then undergoes a 60% retracement. After this correction, a larger bull run typically follows. If history repeats, Dogecoin could be on the verge of another significant rally.
The absence of selling pressure resistance points to a potential rally for DOGE toward the $0.17 price level, where more resistance to the asset's decline and possible consolidation await. Notably, the surge in Dogecoin market volume signals increased interest and liquidity. These two factors stabilize the market and could prevent a sell-off from DOGE holders, especially whales. Dogecoin price history suggests the beginning of trend reversal around Oct. 16-19.
