Dogecoin Could Go To $0.322 If It Overcomes This Key Resistance Level, Analyst Notes

Cryptocurrency
analyst

Ali
Martinez
shared
insights
about

Dogecoin
(CRYPTO:
DOGE)
on
Tuesday,
highlighting
significant
resistance
levels
to
be
overcome
for
the
most
valuable
meme
coin.

What
Happened:
Martinez
noted
Dogecoin
faced
resistance
between
$0.166
and
$0.171,
where
approximately
75,500
addresses
accumulated
nearly
10
billion
Dogecoin.

He
emphasized
that
overcoming
this
resistance
could
lead
to
a
substantial
price
increase
for
Dogecoin,
writing,
“Once
this
barrier
is
overcome,
#DOGE
has
the
potential
to
double,
with
the
next
key
resistance
around
$0.322.”

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Why
It
Matters:
Martinez’s
insights
came
as
Dogecoin’s
canine
rivals

Floki
(CRYPTO:
FLOKI)
and

dogwifhat
(CRYPTO:
WIF)
saw
a
resurgence
in
price.
Meanwhile,
Dogecoin
was
under
scrutiny,
not
living
up
to
analysts
predicting
significant
price
movements.

A
recent
analysis
suggested
a
potential
30%
upside
for
Dogecoin,
which
indicated
a
possible
reversal
in
its
price
trend,
had
thus
far
failed
to
materialize.

Other
rivals
such
as

Shiba
Inu
(CRYPTO:
SHIB)
have
shown
comparatively
stronger
performance,
as
a
trader
recently
highlighted
Shiba
Inu’s
outperformance
compared
to
Dogecoin.

Price
Action:
At
the
time
of
writing,
Dogecoin
was
trading
at
$0.1636,
down
4.62%
over
the
past
24
hours.

What’s
Next:
The
influence
of
meme
coins
is
expected
to
be
thoroughly
explored
at
Benzinga’s
upcoming
Future
of
Digital
Assets event
on
Nov.
19.

This
content
was
partially
produced
with
the
help
of
AI
tools
and
was
reviewed
and
published
by
Benzinga
editors.

Photo:
Shutterstock