Popular cryptocurrency analyst Ali Martinez, Dogecoin $0.332329He stated that (Featured currency: DOGE) may enter a parabolic rise again. In his statement shared with his followers on the social media platform X, Martinez drew attention to Dogecoin’s potential to repeat historical market cycles.
Past Cycles May Predict Uptrend
Martinez noted that based on Dogecoin’s historical data, it shows a distinct tendency to pull back before major price increases. The analyst reminded that in 2017, Dogecoin rose by 212%, then fell by 40% and experienced an incredible increase of 5,000%. Stating that a similar scenario occurred in 2021, Martinez pointed out that Dogecoin increased by 476% in that period, fell by 56%, then increased by 12,000% and then increased by 12,000%.
In light of these cycles, Martinez stated that 2024 could be an important year for Dogecoin. He said that in the event of a repeat of similar movements in the past, Dogecoin would retreat 46% after experiencing a 440% rise, and this fluctuation could herald a new parabolic rise.
Technical Indicators and Impact of Bitcoin
Referring to the technical analysis of Dogecoin, Martinez emphasized that the Tom DeMark (TD) Sequential indicator on the daily chart gave a buy signal. He stated that this signal indicates that the Dogecoin price may begin to recover. Martinez shared an optimistic view, saying, “If history repeats itself, another parabolic rise could be on the way for Dogecoin.”
Bitcoin 
$98,131.4Commenting on the early 2024 movements of , Martinez said that the leading cryptocurrency could fall below the current support level. The analyst predicts that the Bitcoin price may fall below $ 90,000 with a short-term decline, and pointed out that this movement may also affect general market trends. It was also shared that the current price of Bitcoin is at $94,133.
These analyzes by Martinez indicate that Dogecoin should be watched carefully at its current price of $0.32. However, due to the highly volatile nature of the cryptocurrency market, experts warn investors to carefully examine market trends and technical indicators. This approach is important to minimize possible risks and make more strategic investment decisions.
The potential rise in Dogecoin and Bitcoin’s market movements present both risks and opportunities. It is recommended that investors prioritize such analyzes and draw a more conscious road map.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
