Dogecoin (DOGE) Forms Double Bottom, Eyeing Rally to $0.46: Analyst
Main Idea
Analyst Ali Martinez suggests Dogecoin (DOGE) may be forming a double bottom pattern, potentially leading to a rally to $0.46 if it reclaims $0.26 as support, while altcoins show signs of depegging from Bitcoin.
Key Points
1. Dogecoin might be forming a double bottom pattern, indicating a potential rebound if it reclaims $0.26 as support, possibly rallying to $0.46.
2. DOGE declined significantly from December to April but has shown recent recovery attempts, with a 3% increase to $0.23220.
3. Altcoins are depegging from Bitcoin for the first time in a year, with DOGE showing price movement independent of Bitcoin's 3.4% decline.
4. Martinez previously predicted a major bullish breakout for Dogecoin, reinforcing his current analysis of a potential rally.
Description
Dogecoin is eyeing a double bottom, which might be followed by a rebound, per analyst
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