Dogecoin Predicted to Surge 200% Buy DOGE Today?

Dogecoin [DOGE] price has been consolidating in a descending triangle pattern since early March until it broke out of ascending triangle resistance on May 20 and retraced before surging to $0.1748.

Dogecoin price could surge 200% in the near future. This prediction is based on a social media post by Ali Martinez, a well-known cryptocurrency trader and analyst.

Martinez believes that Dogecoin market sentiment is currently at the same low level as shortly before the sharp price increase in early February.

Do these indicators signal a possible breakout?

AMBCrypto analyzed Santiment’s social volume and weighted sentiment. Market sentiment indicates that Dogecoin is as bearish as it was in early March (just before the sharp price increase), indicating that a similar surge could be expected in the near future.

In early March, Dogecoin price surged to $0.18. This surge was due to the SEC’s approval of a Bitcoin ETF, as well as a rise in BTC price.

As of this writing, according to coinmarketcap, the price of Dogecoin is $0.1612, up 1.82% in 24 hours and down 2.25% in the past seven days.

According to Martinez, Dogecoin whales have purchased more than 700 million Dogecoins in the past 72 hours, worth about $112 million.

This suggests that if the price successfully breaks through the $0.16313 resistance level and closes above it, a bullish trend to the all-time high of around $0.1749 is possible.

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