Famous market analyst Ali Martinez emphasized crucial indicators that will guide another round of Dogecoin Rally in the lateral price trend.

Famous market analyst Ali Martinez emphasized crucial indicators that will guide another round of dog Rally in the lateral price trend.

Due to the failure to rediscover the price of Bitcoin, AltCoins appears unstable. Striking to avoid meme coin leader Do gecoin, the company has recently faced mixed price actions.

Meanwhile, Dogecoin has found support at its current level after rejecting lower prices for over a week. TradingView's data indicates that since then, the range of Meme coins has been between 0.2400 and 0.2700 due to market participants waiting for their next move.

It is worth noting that analyst Ali Martinez acknowledged the recent distribution of Dogecoin and speculated on the upcoming trend. However, he mentioned the catalyst for this course, one of which has already gained momentum.

Dogecoin's blockchain activity remains stable

The price of leading meme coins has not only slowed down. The chain activities in the Dogecoin ecosystem have been merged with it. Martinez emphasized key chain boundary indicators, such as daily active addresses, transactions, and whale activity, all at critical levels

Dogecoin's Chain Metrics

It is worth noting that in November after Donald Trump's victory. Those related to bullish macroeconomics stimulated the alpha of meme coins to surge to a high of $0.4843 in December.

As a result, Martinez inferred that the next gathering of Dogecoin would depend on these factors. He suggested that the improvement of these chain indicators would trigger another round of disruption in meme coins with dogs as the theme. Meanwhile, one of the recent indicators has been consistently increasing. In a parallel tweet, Martinez emphasized that whales have started accumulating dogs.

The analysis revealed that after whales purchased 750 million gates earlier, they obtained over 100 million more within 24 hours. He emphasized that the surge in accumulation indicates a growing demand and confidence among investors in Dogecoin's long-term prospects.

Possible goals when restoring trends

Meanwhile, if Martinez rebounds from the current low, Martinez also predicts the next target for Dogecoin. Analysts pointed out in another commentary that assets can skyrocket consistently to $4 if they continue to maintain the upper limit of their multi-year upgrade channels.

His chart shows that to reach $4, it will first violate its 1.00 Fibonacci level at a price of $0.7390. It is worth noting that this crucial resistance is at its all-time high, and overcoming the level is enough to push Dogecoin towards the 1.272 Fibonacci level of $4.1038.

Dogecoin Rising Channel

In addition, Dogecoin has greater potential for upward growth. Analysts predict that assets can reach a cycle of $10 and up to $23. Meanwhile, Doge's trading price is $0.2534.