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Leading cryptocurrency analyst Ali Martinez projected on Saturday a "parabolic" rally for Dogecoin (CRYPTO: DOGE), citing bullish signals and whale activity.
In an X post, Martinez noted that the current Tom DeMark Sequential indicator pattern mirrors the August 2022 setup that triggered a 145% monthly rally for DOGE.
"If history repeats, the next monthly candle could spark a significant move," Martinez said. A 145% upside from current levels would push the memecoin to $0.1718.
Martinez highlighted that large investors were doubling down on the bullish technical setup, with whales bagging over 430 million DOGE in the past week.
They identified $0.0813 as the key resistance level to watch, where more than 30 billion DOGE had previously changed hands.
"A sustained close above this level could signal further upside," Martinez predicted.
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However, prediction markets weren't nearly as optimistic. Polygon (CRYPTO: POL)-based Polymarket currently assigns only a 12% chance that DOGE will breach $0.16 in 2026. In fact, there was a 70% chance that DOGE would slip below $0.06.
The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a "Buy" signal for DOGE, according to TradingView.
The Bull Bear Power indicator, which measures the strength of buyers and sellers, was "Neutral," and so was the Relative Strength Index.
Price Action: At the time of writing, DOGE was exchanging hands at $0.07016, up 0.54% in the last 24 hours, according to data from Benzinga Pro.
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This article Dogecoin About to Go 'Parabolic' With Potential 145% Rally: Popular Crypto Analyst Identifies Key Level to Watch as Whales Position for Upside originally appeared on Benzinga.com
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