Dogecoin (DOGE) price is approaching a potentially crucial juncture as its market starts developing momentum, according to a revelation disclosed today by expert analyst Ali Martinez. Dogecoin, the first and largest meme coin in the cryptocurrency market, is building a structure that the analyst believes signals early accumulation before the next massive move in the digital asset.
Currently, DOGE trades at $0.09438 after recording a dismal 0.3% decline over the past 24 hours. Besides that, its price has been down 0.3% and 4.1% over the past week and month, respectively, showing its consolidation phase. Despite that, the asset has managed to hold its price above a key support level, signaling that buyers could be progressively entering the market during the correction phase.
Dogecoin Price Prints Bullish Signal
Technical analysis shared today by Martinez identified a TD Sequential buy signal on Dogecoin’s weekly chart, pointing out that a potential, upcoming market rally is coming following its downtrend. Martinez’s data shows that DOGE is flashing a TD Sequential buy signal, indicating consecutive bearish candles (representing selling pressure) being neutralized by stabilizing prices (triggered by small bullish candles on the right side), hinting at emerging buying interest.
Despite DOGE’s movement being confined by a downward trendline (as shown in the data above), the asset demonstrates stability by maintaining its above $0.0892 key support level during this consolidation phase. The setup of this consolidation structure raises the possibility of a looming breakout once purchasing activity strengthens.
Martinez’s chart analysis revealed a black upward candle with a green 9, flashing an imminent buy signal and pointing out that the downtrend is coming to an end soon, paving the way for a significant uptrend ahead.
DOGE Whale Buying Activity And What’s Next
The emergence of the TD Sequential buy signal often brings potential 200% and 300% surges, making this formation important for traders tracking DOGE price movements. The signal indicates selling pressure subsiding while early accumulation is emerging. This development is reflected by CryptoRank data reported on Wednesday this week, which identified a significant buying spree among Dogecoin whales, who recently accumulated over 470 million DOGE tokens over the past few days.
With DOGE price currently trading above its $0.0892 long-term support level, the latest TD Sequential buy signal suggests that the asset could be approaching a crucial turning point. As buyers regain interest in the market, Dogecoin is preparing to surge from its current price of $0.09438 to a target price of $0.18876, triggered by a potential 200% spike ahead.
