Cryptocurrency analyst and trader Ali Martinez is bullish on Dogecoin, the largest memecoin by market cap. Martinez shared his insights with his 73,200 followers on X, highlighting the potential for a bullish crossover on the Moving Average Convergence/Divergence (MACD) indicator on Dogecoin’s weekly chart. According to Martinez, previous MACD bullish crossovers on Dogecoin’s weekly chart led to rallies of 90% and 180%, respectively.
Martinez also pointed out the significant growth in the Dogecoin network, noting a 72% increase in new DOGE addresses over the past week. He mentioned that just yesterday, 19,630 new DOGE addresses were created, indicating growing interest in the cryptocurrency.
At the time of writing, Dogecoin is trading at $0.105. Moving on to Bitcoin, Martinez suggested a potential trend shift based on Bitcoin’s price action on the daily chart. He observed a higher low and a higher high, signaling a possible shift from a bearish to a bullish trend for the crypto king.
Bitcoin is currently trading at $60,880. To stay updated on the latest cryptocurrency trends and price action, Martinez encouraged readers to subscribe for email alerts and follow The Daily Hodl on X, Facebook, and Telegram.
In conclusion, Martinez’s analysis points towards a positive outlook for both Dogecoin and Bitcoin, with potential bullish signals in the charts. As the cryptocurrency market continues to evolve, staying informed and monitoring price movements is essential for investors and traders alike.