In the fast-paced world of cryptocurrencies, investors are constantly on the lookout for potential breakouts that could bring substantial gains.
Recently, renowned crypto trading expert Ali Martinez took to Twitter, expressing his views on Dogecoin’s (DOGE) current situation. Martinez believes that the popular meme-based cryptocurrency, Dogecoin, is on the verge of a breakout, presenting an intriguing opportunity for investors.
By analyzing key resistance levels and historical data on address accumulation, Martinez predicts a potential 10% price surge if DOGE surpasses the $0.75 supply wall.
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According to the crypto tweet, breaking through the $0.75 supply wall could trigger a notable upswing in Dogecoin’s price, taking it to $0.85. This price level holds significance due to the presence of approximately 176,000 addresses that had previously purchased over 12.34 billion DOGE.
This accumulation by a significant number of investors suggests a psychological and strategic support level, making it a pivotal threshold for potential price movements.
DOGE accumulation
In cryptocurrency, address accumulation can provide valuable insights into investor sentiment and potential price reactions. The fact that many addresses had acquired over 12.34 billion DOGE at the $0.85 level suggests a level of confidence in the coin’s prospects.
Address accumulation can create a strong psychological support level, as investors often base their future decisions on past patterns and positions.
DOGE is changing hands at $0.071426, up 0.22% in the last 24 hours. Over the short term, the meme coin has a $0.06601 support Level and a $0.07516 resistance level and remains ranked inside the top 10 digital assets by market cap.
Based on 286 votes from the crypto community at CoinMarketCap with historical accuracy of 85% as of July 15, DOGE is estimated to trade at an average price of $0.0822, expecting around 12% of price appreciation for the next two weeks, from the cryptocurrency’s current price.
The popular meme-based cryptocurrency has witnessed remarkable growth over the past year. With a notable 10% increase in price, DOGE has surpassed many other top crypto assets.
Additionally, the past 30 days have seen a significant number of positive price movements, with 17 out of 30 days marked by gains, showcasing Dogecoin’s resilience and market appeal.
Dogecoin has demonstrated its ability to outperform a significant portion of its peers. Over the past year, DOGE has managed to outshine 69% of the top 100 crypto assets.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
