Popular cryptocurrency analyst Ali Martinez recently revealed the bullish outlook for the meme inspired cryptocurrency dog coin ($DOGE) and pointed out that the token is breaking through its multi-year decline triangle on its weekly chart.This analyst pointed out that at the time of this breakthrough, the TDSequential indicator showed a buying signal for cryptocurrencies inspired by memes, which "reinforces the bullish outlook of DOE"
Popular cryptocurrency analyst Ali Martinez recently revealed the bullish outlook for the meme inspired cryptocurrency dog coin ($DOGE) and pointed out that the token is breaking through its multi-year decline triangle on its weekly chart.
This analyst pointed out that at the time of this breakthrough, the TDSequential indicator showed a buying signal for cryptocurrencies inspired by memes, which "reinforces the bullish outlook of DOE".
TDSequential is a technical analysis metric created by financial market analyst Thomas DeMark. It is used to identify potential trend reversals in asset prices. The TD sequential method is based on the idea that market trends often change in a series of upward or downward price changes (referred to as "countdown").
This indicator uses a series of numbers and letters to represent potential trend reversals, with buying signals typically represented by green 9, as shown by Martinez on his chart.
According to CryptoGlobe, earlier this month, a cryptocurrency analyst made a bold DOGE price forecast, suggesting that it may soar by over 27000% in the near future, reaching the $16 per token mark.
If the price of this meme inspired cryptocurrency skyrockets by 27000%, it will break the previous historical high. This analyst named AMINSHEYBANI has released a chart titled "Doget to the Moon" on TradeView. As reported by Benzinga, they hinted in the chart that the potential support level is $0.058, which may be the basis for a significant increase, possibly leading to a peak of $16, which means that cryptocurrencies will rise 27500%.
It is worth noting that according to reports, Dogcoin is one of the cryptocurrencies held by SoFi, a San Francisco based banking institution, which has disclosed that it has $166 million in cryptocurrency.
Among them, $82 million is Bitcoin, and $55 million is Ethereum, the second largest digital currency by market value. Cardano has approximately $4.5 million, while the cryptocurrency DOGE inspired by memes has $4.9 million.
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