Next Dogecoin (DOGE) Bull Run – A New Trigger

According to the latest reports, there could be one specific trigger for the next DOGE bull run. Check out the latest details about the new prediciton below.

A crypto strategist closely followed by many believes that the popular memecoin, Dogecoin (DOGE), could enter a bull market if it successfully crosses two resistance levels.

Ali Martinez, an analyst with 31,200 followers on social media platform X, notes that DOGE is currently trading within a large triangle pattern.

If the coin convincingly breaks out of this technical formation, it could potentially print a new all-time high.

Martinez also suggests that a weekly candlestick close above $0.0835 could trigger the beginning of a new DOGE bull run, possibly leading the coin towards $1.

However, Martinez warns that we must keep an eye on the $0.0482 support, as any sign of weakness around this level could cause a new yearly low.

After analyzing the trader’s chart, the analyst has identified two significant resistances for DOGE. The first resistance is the multi-year diagonal resistance of the triangle, while the second one is the horizontal resistance at $0.083.

As of writing, DOGE is trading at $0.059, which is a decline of over 91% from its all-time high of $0.731 that it reached in May 2021.

When it comes to the top crypto asset by market cap, the trader is keeping a close eye on Bitcoin’s (BTC) realized price warm supply metric.

This metric tracks the average buying price of all coins that have not moved for a week to six months.

According to Martinez, BTC will experience a new bull run if it moves above the current value of the on-chain metric.

“Bitcoin warm supply realized price indicator suggests that the bull run will only reignite if BTC secures a sustained close above $28,233!”

Stay tuned for more news from the crypto space and keep your eyes on the market.