Market Data 
Dogecoin has been in a consolidation mood for some time now. Crypto analyst Ali believes that if the asset price rises to $0.276, it could trigger a massive investor sentiment with gigantic positions created around the token.
If #Dogecoin $DOGE surges to $0.276, it could trigger a major shift, with over $94 million in positions at stake. pic.twitter.com/1lqnqiDHPw
— Ali (@ali_charts) February 9, 2025
DOGE gearing up for a rally
The analyst posted a technical chart on the X platform where he predicted that if the Dogecoin price increases to $0.276, the market sentiment could change. According to Martinez’s forecast, the price surge to this price mark could create a huge positive sentiment on the asset, consequently attracting an inflow of over $94 million into the market.
The analyst appears to believe that if the DOGE price rises to $0.276, investors will engage in massive buying activity. This could trigger a cascading effect whereby more traders get attracted to the asset and make big purchases. The analyst believes that this will possibly help fuel a greater upward movement of the token’s price in the future.
DOGE price analysis
Martinez’s price forecast is backed by crypto analyst Trader Tardigrade who also believes that Dogecoin is set to experience potential ascending movement soon.
A few days ago, Trader Tardigrade posted a technical chart indicating that DOGE has completed a bullish divergence in its RSI daily chart. This suggests a looming price recovery.
The formation of this technical pattern happens when a crypto asset makes lower lows and the RSI records higher lows, showing a declining downtrend and a potential price reversal. According to this pattern, this market observer believes the asset could soon end its current bearish momentum and create a bullish movement.
The token price is currently hovering at around $0.2508. As Martinez pointed out, a breakout to $0.276 could trigger buying pressure for the asset. However, a drop below $0.25 will confirm further price consolidation. As per Trader Tardigrade’s market analysis, since the asset completed the bullish divergence pattern on its daily RSI chart, this signals a price recovery could be forthcoming.
Although Dogecoin has been experiencing a correction trend in the past month, it has shown resilience. Trader Tardigrade’s projection coincides with previous trends where the asset experienced impressive price increases following market corrections.
However, potential price drops could still present a buying opportunity for investors. Historically, DOGE has demonstrated robust resurgences after price consolidations. The current price drop could be laying the foundation for another bullish rally.
