#USConsumerConfidence #SOLETFsOnTheHorizon
2025 has been filled with several ups and downs for the meme coin market, with the launch of a political token by the United States President being the peak moment so far. Large-cap meme tokens, including Dogecoin and Shiba Inu, saw their liquidity shrink after TRUMP took over the market the past week.
According to data from CoinGecko, the Dogecoin price has fallen by more than 15% in the last week. However, the meme coin’s fortune appears to be witnessing a massive turnaround, with the DOGE price expected to recover nicely over the next few days
Is A Rebound Imminent for DOGE Price?
Popular crypto analyst Ali Martinez took to the social media platform X to sound a buy alarm for Dogecoin in the short term. As it appears, the meme coin’s price is set to rebound after succumbing to intense bearish pressure in the past week
Related Reading: Ethereum Holders Ramp Up Accumulation As ETH Price Fluctuates, Is A Rebound Possible?
This bullish analysis revolves around the Tom Demark “TD” Sequential buy signal for the Dogecoin price in the one-hour timeframe. The Tom Demark Sequential is a technical analysis indicator used to pinpoint the exact time of trend exhaustion and price reversal for a particular cryptocurrency.
The TD Sequential indicator usually consists of two phases: the TD Setup (the momentum phase) and the TD Countdown (the trend exhaustion phase). The TD Setup phase occurs after a price reversal and comprises a 9-candle count (of the same polarity). The TD Countdown phase, on the other hand, comprises 13 candles and only occurs after the Setup phase has been established
In a bearish trend, the point of reversal comes when the TD Sequential plots the number ‘9’ on the bottom of a candle (I.e., when 9 consecutive candles closed lower than the candles of 4 periods earlier). As highlighted by Martinez, the TD Sequential indicator identified a potential bullish reversal for the Dogecoin price
With a rebound likely on the horizon, the meme coin would be looking to reclaim $0.4 as quickly as possible, having lost the psychological level in the past week As of this writing, the price of DOGE stands around $0.349, reflecting a 0.7% increase in the past 24 hours.
Dogecoin In The Long Term?
While the Dogecoin price might be set for more gains in the short term, new market data indicates that the growth of the meme coin might be unsustainable over time. Martinez suggested this possibility in a separate post on X, saying that there might be no altcoin season this cycle
Related Reading: Bitcoin Trading In Historically Tight Range: Volatile Decompression Soon?
This forecast is based on the exponential increase in the number of altcoins, leading to a saturation of the market. According to Martinez, a current landscape of 36.4 million altcoins — compared to 3,000 coins in 2017-2018 — indicates a massive shift in the market.
#2024币圈回顾从跌跌不休到一飞冲天哪些币种走出了逆袭之路
It is worth mentioning that the meme coin frenzy on the Solana network over the past year has had a huge impact on this figure. The massive rate at which new meme tokens are being created on different Solana-based protocols, most notably Pump.fun, can’t be overstated.
