While Bitcoin has just experienced its fourth halving, crypto analyst Ali Martinez anticipates an imminent rise in the price of Dogecoin (DOGE). According to its technical analysis, this memecoin could reach the psychological threshold of $1 in the coming weeks.
Dogecoin in pole position for a new season of mimetic currencies
The fourth Bitcoin halving, which occurred this weekend, marks the start of a new bull cycle for the crypto market. With BTC supply limited to 450 units per day and institutional demand constantly increasing, a new all-time high is on the horizon.
This positive momentum is spreading across the market, with altcoins already showing bullish trends in the first quarter. In this favorable environment, Dogecoin is attracting particular interest from investors, who are banking on its growth potential during this cycle.
Backed by Elon Musk and his disruptive companies, DOGE remains firmly anchored in the top 10 cryptos, with a market capitalization of $23.22 billion and an average daily volume of $1.34 billion.
Promising bullish signals for DOGE price
Ali Martinez, a recognized crypto analyst, detects in the evolution of DOGE the signs of a repetition of the past bullish cycle. His technical analysis suggests that Dogecoin price is nearing the end of its recent consolidation phase and is expected to reach the psychological resistance of $1 in the coming weeks.
Martinez highlights the formation of higher highs and lower lows on the weekly timeframe, a chart pattern characteristic of a market in an uptrend. Right now, DOGE is trading slightly above the $0.16 support, after rallying around 10% in recent days.
The gradual increase in the number of non-empty addresses, which now reaches around 7.3 million, reflects the growing interest of investors in this famous memecoin. This upward trend should thus be confirmed with the imminent arrival of a new altseason, conducive to capital gains on altcoins.
As the crypto market enters a new era following Halving Bitcoin, Dogecoin seems in pole position for a surge in its price. With the unwavering support of Elon Musk and growing adoption, DOGE could well cross the symbolic milestone of $1 in the near future, as predicted by analyst Ali Martinez.
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