Cryptocurrency Dogecoin is predicted to grow significantly

Ali Martinez, a well-known crypto trading expert, has spoken about the current situation with the Dogecoin (DOGE) cryptocurrency. The analyst believes that the popular meme token is on the verge of a breakthrough and represents an «intriguing opportunity for investors.»

Analyzing key resistance levels and historical data on the accumulation of crypto addresses, Martinez predicts a potential surge of 10% in the meme-coin rate. The condition is that DOGE must overcome the psychological limit of $ 0.75.

According to Martinez’s tweet, «a breakthrough of the $ 0.75 supply wall could trigger a significant increase in the price of Dogecoin to $ 0.85. This level of support is significant due to the presence of over 176,000 addresses that have previously purchased over 12.34 billion DOGE coins.»

Such an accumulation of meme cryptocurrencies, according to the trader, indicates strategic support for the desired level. This makes the $ 0.75 rate a key threshold for potential price movements of Dogecoin.

In cryptocurrencies, the accumulation of addresses can provide valuable information about investor sentiment and potential price reactions. The fact that many addresses have purchased more than 12.34 billion DOGE at $ 0.85 indicates a certain level of confidence in the coin’s prospects. «The accumulation of addresses can create strong psychological support, as investors often base their future decisions on past patterns and positions,» Martinez said.

At the time of writing, Dogecoin is worth $ 0.069, which is 2.09% lower than yesterday. According to CoinMarketCap, the coin’s market capitalization is $ 9.7 billion, and daily trading transactions reached $ 457.7 million.

In turn, Finbold analysts noted that over the past year, the meme token has already demonstrated a 10% growth and surpassed many cryptocurrency assets from the top 100 rating. In addition, a significant number of positive price changes have been observed over the past 30 days, with 17 out of 30 days (June-July) showing positive dynamics and growth. According to experts, this demonstrates the stability and attractiveness of Dogecoin in the market. Overall, during the year, DOGE managed to outperform 69% of the 100 largest crypto assets.