Analyst Marks Key Levels for DOGE

Cryptocurrency analyst Ali Martinez marked those levels by stating that Dogecoin (DOGE) is currently moving in the middle of key support and resistance levels.

Cryptocurrency analyst Ali Martinez pointed out that the important support level for Dogecoin, which is supported by the famous billionaire Elon Musk, is $0.075, because at this price level, 44 thousand wallet addresses holding about 34.4 billion coins are buying. The analyst stated that the key resistance level for DOGE is $0.086, as 92,000 wallet addresses holding 13 billion coins are buying at this price. Martinez emphasized that these two levels are important for DOGE to move up or down, and both levels should be followed carefully.

The data shows that Dogecoin has risen over 14 percent since the start of 2023. At current prices, DOGE is still priced 89% below its all-time high of around $0.731 in May 2021.

Among the major news surrounding Dogecoin in recent days is Coins Pro, a cryptocurrency exchange operated by Coins.ph, recently listing DOGE. Coins.ph is a Philippines-based cryptocurrency company that reports over 7 million monthly active users. Also, while the DOGE price is on a sideways course, coin whales continue to make large transfers in the largest dog-themed coin. Dogecoin Whale Alert, a project that tracks major movements on the Dogecoin network, reported last week that there were approximately 99 transactions in which 5 million or more of DOGE were moved.