Dogecoin Price Movement and Analyst Ali Martinez's Comments

Born out of joke culture, cryptocurrency Dogecoin (DOGE) has failed to make any significant price movement over the past two months and has struggled to rise above the $0.06 level. This situation is in line with the uncertainty in the general cryptocurrency market and the decrease in Dogecoin's daily trading volume.

On Friday, October 13, cryptocurrency analyst Ali Martinez made a hopeful statement to the Dogecoin community. Martinez stated that Dogecoin is approaching the peak of its “multi-year descending triangle formation.” The analyst suggested that once there is a weekly close in Dogecoin above the $0.0835 level, the $1 movement could begin.

Martinez said that in a negative situation, investors should closely follow the support at $0.0482. He stated that if it falls below this level, the lowest price level of the year could be seen.

On October 16,#Dogecointraded at $0.06011, up 1.42%. Over the last 7 days, DOGE price has increased by close to 2%, but its monthly performance has decreased by 3.8%.

Over the last 30 days,#DOGEhas traded between $0.057 and $0.064. DOGE's volatility gives more positive signals compared to other cryptocurrencies.