Cryptocurrency analyst predicts growth of the most famous meme token

Ali Martinez, a well-known crypto trading expert, has spoken out about the future of Dogecoin (DOGE). On his Twitter page, the analyst shared his bullish sentiments about the market’s main meme token.

According to Martinez, Dogecoin is ready to start growing. The Tom DeMark (TD) Sequential indicator shows a bullish signal for DOGE $0.07 Department Of Government Efficiency -3.23% Market capitalization $70.69 million VOL. 24 hours $1.07 billion . TD tracks a series of price points that signal possible trend reversals.

«It looks like Dogecoin is ready to start a new uptrend! TD Sequential has given a buy signal on the weekly chart of DOGE. A sustained close above $ 0.062 could lead to a rise to $ 0.070,» Martinez wrote.

As for other cryptocurrencies, the trader drew attention to Chainlink (LINK). Martinez noted that Chainlink’s market value to realized price (MVRV) ratio hints at a possible drop in LINK. The MVRV compares the total market capitalization of an asset to its realized value and can be used to determine the timing of market highs and lows.

«Santiment's data shows that the last three times Chainlink’s 30-day MVRV exceeded 20%, LINK experienced a sharp correction! Please note that LINK’s 30-day MVRV recently exceeded 20%, which indicates an imminent correction.»

As a reminder, over the past day, Chainlink’s value has increased by 11%, and over the past week — by 51.3%. The analytical portal Lookonchain published a whole thread in which it tried to understand the reasons for the coin's growth. Experts drew attention to a number of large transactions with LINK, reporting on the price increase on October 22. According to analysts, the growth of Chainlink is related to Korean cryptocurrency exchanges and whale activity.