The worth of Dogecoin has generally struggled this 12 months, however the meme token has been on such an ideal run prior to now few weeks, mirroring the present optimistic situation of the final cryptocurrency market. And if on-chain knowledge is something to go by, this present worth rally may not be coming to an finish anytime quickly.

Dogecoin Efficiently Clears All Main Resistance – What’s Subsequent?

In a latest publish on X, outstanding analyst Ali Martinez revealed that the Dogecoin worth has efficiently cleared all main resistance ranges. This newest on-chain revelation is predicated on IntoTheBlock’s worth knowledge, which revolves across the density of traders who purchased the DOGE token at sure ranges.

#Dogecoin has efficiently cleared all main resistance ranges!

With the $0.095 assist proving robust – because of 63,280 addresses shopping for 3.2 billion $DOGE – the trail appears set for an upward journey. If this assist stays agency, we may see #DOGE aiming for $0.14 subsequent. pic.twitter.com/QmfZ9kY5Dh

— Ali (@ali_charts) December 8, 2023

In response to the offered knowledge, the $0.095 stage appears to be the final vital resistant space for the DOGE worth. And because the meme coin has gained far over the value vary, the $0.095 space has flipped right into a “robust assist” – because of 63,280 addresses shopping for the cryptocurrency at this stage.

Appears like there aren't any vital resistance areas above the present worth | Supply: Ali_charts/X

The chart above exhibits how the Dogecoin worth ranges across the present worth look by way of the density of traders. The dimensions of the dot displays the variety of traders who purchased the meme token at every worth vary.

As displayed within the above graph and highlighted by analyst Ali Martinez, there aren’t any main resistance zones above the present DOGE worth. Therefore, the worth of Dogecoin appears set to proceed on an upward trajectory.

The crypto analyst stated that if the $0.095 assist vary continues to carry robust, there’s a rising chance for DOGE to climb as excessive as $0.14 within the close to future. This represents a considerable 35% rally from the meme coin’s present worth level.

DOGE Value Overview

As of this writing, Dogecoin is valued at $0.103424, reflecting a 6.7% worth enhance prior to now 24 hours. This stage of progress within the final day solely underscores the meme token’s optimistic efficiency prior to now few weeks.

Based mostly on knowledge from CoinGecko, the DOGE worth has elevated by greater than 22% prior to now seven days. In the meantime, the cryptocurrency has registered roughly a large 35% acquire in a single month.

Dogecoin ranks because the tenth-largest cryptocurrency within the sector, with a market cap of roughly $14.6 billion.

DOGE worth continues upward swing on the each day timeframe | Supply: DOGEUSDT chart on TradingView

Featured picture from iStock, chart from TradingView