Dogecoin is poised for a price rebound as crypto whales pile into DOGE, according to analyst

A well-known cryptocurrency analyst says that one technical signal suggests that the Dogecoin meme token (Doug) could be poised for a rebound.

Ali Martinez He tells From his 104,600 followers on social media platform X that the Tom DeMark (TD) Sequential Index provided a bullish signal for DOGE.

“The TD sequence provides a buy signal on Dogecoin Doug Four-hour chart, anticipating a price recovery!

Traders use the TD Sequential indicator to predict potential trend reversals of symbols based on the closing prices of the previous 13 bars or candles.

Martinez too Notes Dogecoin whales have bought more than 90 million DOGE over the past two days.

DOGE is trading at $0.314 at the time of writing, which is a slight decline over the past 24 hours.

Looking at Bitcoin (Bitcoin), Martinez warns Traders should be concerned if top-ranked crypto assets in terms of market cap fall below a certain price level.

“You don’t want Bitcoin to drop below $92,730 – it’s basically a free-fall zone if that level is broken.”

Martinez suggests that below $92,730, the next on-chain support for BTC hovers at around $69,000 based on Glassnode’s UTXO (Unspent transaction output) Realized price distribution, which is a measure that shows how much Bitcoin was last transferred within a specific price range.

But while Martinez sounds the alarm about Bitcoin’s potential pullback, he points out that a 20-30% correction could occur. represents “The most optimistic thing that could happen to Bitcoin.”

Bitcoin is trading at $94,671 at the time of writing.

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