Analyst predicts growth in the value of Dogecoin cryptocurrency in the near future

A well-known cryptocurrency analyst has said that the Dogecoin (DOGE) meme coin could kickstart the recovery of the entire crypto market. According to experts, the popular coin has been forming a certain chart pattern for several months now, which could lead to a breakout.

The price of Dogecoin has been showing a falling wedge on its daily chart since March, and a sustained close above $ 0.10 could trigger a bullish rise to $ 0.15. This is according to the analysis shared by renowned crypto trading expert Ali Martinez in his post on September 9.

Currently, the coin is trading at around $ 0.10, showing positive signals for potential growth. A breakout of this resistance level could trigger an active growth phase, which is important for investors. Dogecoin has remained volatile for a long time, but support from key figures such as Elon Musk does not always contribute to rapid growth. Investors are closely monitoring market trends, as the stable growth of cryptocurrencies is a favorable signal for future investments.

Martinez notes that Dogecoin has long demonstrated weak dynamics due to the lack of strong growth drivers. However, recent market signals indicate a possible breakthrough. The price of the cryptocurrency may experience strong support in the short term if its current dynamics is stable. The main emphasis is placed on the fact that the cryptocurrency market, in particular Dogecoin, remains strongly influenced by news and social factors.