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The Daily Hodl 2024-12-29 01:00:17

Dogecoin Primed for a Price Rebound As Crypto Whales Accumulate DOGE, According to Analyst

Dogecoin Primed for a Price Rebound As Crypto Whales Accumulate DOGE, According to Analyst

A popular crypto analyst says one technical signal suggests that top meme token Dogecoin ( DOGE ) could be primed for a bounce. Ali Martinez tells his 104,600 followers on the social media platform X that the Tom DeMark (TD) Sequential Indicator presented a bullish signal for DOGE. “The TD Sequential presents a buy signal on the Dogecoin DOGE four-hour chart, anticipating a price rebound!” Source: Ali Martinez/X Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. Martinez also notes that Dogecoin whales bought more than 90 million DOGE in the past two days. Source: Ali Martinez/X DOGE is trading at $0.314 at time of writing, a fractional decrease in the past 24 hours. Looking at Bitcoin ( BTC ), Martinez warns that traders should be worried if the top-ranked crypto asset by market cap drops below a certain price level. “You don’t want BTC to dip below $92,730 – it’s essentially free-fall territory if that level breaks.” Source: Ali Martinez/X 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, a metric that shows the amount of Bitcoin that last moved within a specific price bucket. But while Martinez is sounding the alarm about a potential pullback for BTC, he notes that a 20-30% correction represents “the most bullish thing that could happen to Bitcoin.” Source: Ali Martinez/X Bitcoin is trading at $94,671 at time of writing. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Dogecoin Primed for a Price Rebound As Crypto Whales Accumulate DOGE, According to Analyst appeared first on The Daily Hodl .

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