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- Prominent analyst Ali Martinez highlighted Dogecoin’s historical price patterns, hinting at a parabolic rally that could push the price as high as $18.
- DOGE’s open interest has surged by 5.38%, surpassing $2 billion, signaling increased market activity.
Dogecoin price has bounced back nearly 20% from the lows of $0.2685 earlier this week and is now setting up the stage for a parabolic rally ahead. As of press time, the DOGE price is trading up 2% at $0.32, with its market cap surging past $47 billion.
The recent volatility in Dogecoin comes as part of the broader crypto market selloff last week after the US Federal Reserve switched to hawkish commentary with fewer-than-expected rate cuts in 2025. While DOGE still trades 20% down on the weekly chart, bullish expectations from crypto market analysts show that a DOGE rally is there in the offing.
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 X post that the TD Sequential indicator had triggered a buy signal on DOGE’s daily candle chart, signaling a possible price reversal, per the CNF report.
The TD Sequential is a technical tool traders often use to identify trend exhaustion and predict price reversals by analyzing prior candle closes. This buy signal aligns with Martinez’s earlier analysis, where he indicated that DOGE could be on the brink of a parabolic rally, adding further optimism to the meme coin’s outlook.
Dogecoin Price Eyeing Parabolic Rally to $18
Prominent crypto analyst Ali Martinez has highlighted Dogecoin’s (DOGE) historical price patterns, suggesting the meme coin could be poised for another explosive rally, reported CNF.
In a recent post on the X platform, Martinez detailed Dogecoin’s performance during its previous parabolic runs:
- In 2017, DOGE surged by 212%, retraced 40%, and then skyrocketed by 5,000%.
- In 2021, the coin rallied 476%, retraced 56%, and later soared 12,000%.
Martinez noted that in 2024, DOGE has already risen by 440% and retraced by 46%. “If history repeats,” he said, “another parabolic rally is on the way!” As per the below chart shared by Martinez, DOGE could rally all the way to $18.
For Dogecoin to set the stage for a parabolic rally ahead, improvements must also be made in the on-chain metrics. As per the Coinglass data, the DOGE open interest is once again on the rise, currently up 5.38%, shooting past $2 billion.
Elon Musk’s potential influence in driving Dogecoin (DOGE) toward its historic $1 target remains a topic of speculation, particularly as he assumes his new role as co-head of the D.O.G.E. agency during Donald Trump’s upcoming term.
For now, the focus is on Dogecoin’s immediate technical performance. The meme coin must demonstrate resilience by breaking through the critical $0.42 resistance level before aiming for higher targets, including the much-anticipated $1 mark.
