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Crypto analyst Ali Martinez believes that Dogecoin (DOGE) may have shifted to bullish sentiment based on technical and fundamental aspects.
On May 25, Martinez predicted that Dogecoin price could surge at least 12% in the coming days to retest $0.1156. This crypto analyst highlighted that the bullish thesis for DOGE rests on the fact that the dog-themed memecoin has retested a robust support level around $0.1027.
DOGE/USD 1D chart. Source: TradingViewFurthermore, this identified support level aligns with Dogecoin’s retest of the 50-day Simple Moving Average (SMA). Additionally, DOGE price recently rallied past $0.1027, overcoming a major sell wall in March and April 2026.
As such, Martinez noted that DOGE price could drop towards its support level around $0.0883 if buyers fail to defend the support at $0.1027. Essentially, this analyst suggests that DOGE price has traded in a horizontal channel, especially after it faced rejection at $0.1156 twice since its capitulation in early February.
Key factor that could influence Dogecoin price soon
Whales’ behavior could heavily influence Dogecoin’s price outlook, especially as it is a large-cap memecoin. For instance, since the memecoin bottomed in February, its spot exchange-traded funds (ETFs) have increased their monthly flows, recording a total inflow of $5.36 million over four months, according to data from SoSoValue.
Spot DOGE ETF monthly flow. Source: SoSoValueAs a result, the spot DOGE ETFs currently hold assets valued at approximately $14.53 million. If U.S. ETFs continue to accumulate Dogecoin in the near future, the memecoin could rise further, as Martinez has projected.
However, if ETF investors liquidate their holdings and increase selling pressure, the memecoin may drop to retest its multi-month bear-market low of roughly $0.088. Moreover, whale investors significantly influence retail traders in both the derivatives and spot markets.
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