A closely followed crypto analyst believes that leading memecoin Dogecoin (DOGE) is preparing to trigger another parabolic rally.
Crypto strategist Ali Martinez shares with his 103,200 followers on the social media platform
“In 2017, when Dogecoin began a parabolic rise, it rose 212%, fell back 40%, and then recovered 5,000%. In 2021, it rose 476%, fell 56%, and then shot up 12,000%.
Now, in 2024, DOGE is up 440% and down 46%. If history repeats itself, another parabolic rally is in store!”
Looking at the trader’s chart, he appears to be predicting that Dogecoin will rise above $1 if its parabolic rally occurs.
Zooming in, Martinez says that DOGE is signaling a bullish signal on the daily chart based on the Tom DeMark (TD) Sequential Indicator. Traders use the TD Sequential Indicator to predict possible trend reversals for tokens based on the closing prices of their 13 previous bars or candlesticks.
“The TD Sequential represents a buy signal on the Dogecoin DOGE daily chart,…
