Dogecoin Price Poised for Breakout as Analyst Targets $0.36

Crypto trader and analyst Ali Martinez has highlighted a bullish setup for Dogecoin (DOGE), suggesting the meme coin could be gearing up for a significant upward move. According to Martinez, Dogecoin’s price has reached an important level and may soon target the $0.36 zone if key conditions are met.

Martinez shared a Glassnode chart showing Dogecoin’s UTXO Realized Price Distribution (URPD), which indicates minimal selling pressure above the $0.25 mark. He described this as a “huge win” for DOGE, noting that there is “almost zero resistance” up to $0.36. For this bullish scenario to play out, Martinez emphasized that Dogecoin must first reclaim and hold the $0.25 support level.

Currently, DOGE is trading around $0.23, hovering just below this crucial threshold. A successful rebound could potentially open the door for further gains. Martinez also pointed out a reverse “double bottom” pattern forming on Dogecoin’s chart, which often signals a trend reversal and additional upside momentum.

If the pattern confirms and DOGE maintains support, analysts believe the next price leg could extend even higher, with some projections eyeing the $0.46 region. Dogecoin’s recent resilience and reduced selling activity above $0.25 suggest growing optimism among traders and long-term holders.

The cryptocurrency market’s broader sentiment and Bitcoin’s performance will likely influence DOGE’s trajectory in the short term. However, technical indicators currently favor bulls, making Dogecoin one of the key altcoins to watch as it approaches critical resistance levels.

With minimal overhead resistance and improving chart structures, market observers are closely monitoring whether Dogecoin can reclaim $0.25 and spark the next rally toward multi-month highs.