One expert believes Dogecoin is about to experience a major price rally, something not seen since December 2021, as the cryptocurrency landscape shows it is ripe for a breakout.

Cryptocurrency analyst Ali Martínez commented on the currency's technical situation, stating that the price of Dogecoin could rise by up to 200% in the coming weeks if the current pattern of indicators continues.

Martínez noted that Dogecoin managed to break a downtrend that lasted several years, which has historically led to a rise in the meme coin's price.

He pointed out that after similar breakouts, the price of the coin usually increased by 200%.

After a recent 65% drop, Dogecoin may be gearing up for the next big rally.

He predicted that Dogecoin could surpass the $0.2236 mark, a level not seen since December 2021.

In September, the token experienced a breakout, leading to a 25% rally.

However, Dogecoin failed to maintain the rally, falling back to $0.11.

Other analysts shared the same prediction, stating that if the coin managed to surpass the $0.1120 level, it would likely easily surpass the $0.1315 mark this month.

Analysts, however, warned traders to be cautious about Dogecoin's potential price rally, noting that a 60% pullback usually preceded previous breakouts before it gathered momentum for an uptrend.

A surge in Dogecoin’s active addresses is one of the main reasons why analysts are betting on a possible major price rally for the cryptocurrency.

Martínez revealed that active DOGE addresses reached their highest level in eight months, rising to 133,880.

This increase indicates that people are regaining their interest in the currency, noting a recent surge in new users.

Additionally, experts also see whale activity as another driver in Dogecoin’s resurgence.

In more than a week, whales have accumulated at least 2.07 billion DOGE, the highest volume since January.

This accumulation demonstrated traders’ growing confidence in the token, as massive purchases often result in significant price adjustments, serving as indicators of impending market trends.

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