- Prominent analyst Ali Martinez highlighted Dogecoin’s historical price trends, hinting at a parabolic rally that could push the price as high as $18.
- DOGE’s open interest jumped 5.38%, surpassing $2 billion, signaling increased market activity.
Dogecoin price has rebounded almost 20% from the low of $0.2685 earlier this week and is now setting the stage for an upcoming parabolic rally. At press time, DOGE price is trading 2% higher at $0.32, with a market cap exceeding $47 billion.
Dogecoin’s recent volatility comes amid the broader crypto market sell-off last week after the US Federal Reserve shifted to a hawkish commentary with fewer-than-expected rate cuts in 2025. While DOGE still trading down 20% on weekly chart, bullish expectations Crypto market analysts show a DOGE rally is coming.
Prominent crypto analyst Ali Martinez has suggested a potential rebound for Dogecoin (DOGE), the leading meme coin. On Monday, December 23, Martinez noted in an article that the TD Sequential indicator triggered a buy signal on DOGE’s daily candle chart, signaling a possible price reversal, according to CNF. report.
The TD Sequential is a technical tool that traders often use to identify trend exhaustion and predict price reversals by analyzing previous candle closes. This buy signal aligns with Martinez’s previous analysis, in which he indicated that DOGE could be on the verge of a parabolic rally, adding even more optimism to the meme coin’s outlook.
Dogecoin Price Eyes Parabolic Rally to $18
Prominent cryptocurrency analyst Ali Martinez highlighted historical price patterns of Dogecoin (DOGE), suggesting the meme coin could be poised for another explosive rally, reported CNF.
In a recent article on Platform X, Martinez detailed Dogecoin’s performance during its previous parabolic runs:
- In 2017, DOGE surged 212%, fell 40%, then skyrocketed 5,000%.
- In 2021, the coin rose 476%, retraced 56% and then soared 12,000%.
Martinez noted that in 2024, DOGE has already increased by 440% and retraced by 46%. “If history repeats itself,” he said, “another parabolic rally is on the way!” » According to the chart below shared by Martinez, DOGE could rally up to $18.
For Dogecoin to set the stage for an upcoming parabolic rally, improvements must also be made to on-chain metrics. According to the Coin DataDOGE open interest is on the rise again, currently up 5.38%, surpassing $2 billion.
Elon Musk’s potential influence in driving Dogecoin (DOGE) toward its historic $1 target remains a matter of speculation, especially as he assumes his new role as co-head of the DOGE agency for the next term of Donald Trump.
For now, the focus is on Dogecoin’s immediate technical performance. The meme coin needs to show resilience by breaking through the critical resistance level of $0.42 before aiming for higher targets, including the much-anticipated $1 mark.