"It's best DOGE, continue the fight to break through $0.09 after this."
Ali Martinez, a leading cryptocurrency analyst recently opined that the largest memecoin Dogecoin (DOGE) is about to make a significant breakout where its price will see a significant climb.
DOGE is currently in a difficult momentum as the price is still unsure whether to break the resistance or support zone, commented Martinez on his X account which has thousands of followers.
In context, DOGE was originally just a parody but over time the memecoin became popular and it was one of the first coins launched after Bitcoin (BTC).
DOGE is based on BTC code via a proof-of-work (PoW) mechanism that is mined alongside Litecoin (LTC) and has long been highly regarded despite its memecoin status, so Martinez discussed the potential for its price to breakout positively.
In addition to expecting the price of DOGE to make a massive breakthrough, Martinez revealed that there are 200,000 wallets holding 28.6 billion DOGE in its support zone while 124,000 in the resistance zone already own the 26.95 billion memeoin.
Through observation, DOGE has seen a gradual increase from $0.0666 on November 3, 2023 to $0.0772, therefore the price can jump higher if it can break through its resistance zone of $0.0777 but if it fails then the memecoin can go down again.
As of this writing, DOGE price is up 3.41% at $0.0763 in the last 24 hours with a market capitalization of $10 billion and has recorded a 9.63% increase over the last week.
