Cryptocurrency analyst Ali Martinez believes that Dogecoin (Doug) may have turned into bullish sentiment based on technical and fundamental aspects.
On May 25, Martinez predicted that Dogecoin’s price would rise by at least 12% in the coming days to retest $0.1156. This cryptocurrency analyst highlighted that the bullish thesis for DOGE is based on the fact that the dog-themed memecoin retested a strong support level around $0.1027.
Furthermore, this specific support level corresponds to Dogecoin’s retest of the 50-day simple moving average (SMA). Additionally, DOGE price recently rose above $0.1027, overcoming a major sell wall in March and April 2026.
As such, Martinez male DOGE price could decline towards the support level at around $0.0883 if buyers fail to defend the support at $0.1027. This analyst is essentially pointing out that DOGE price is trading in a horizontal channel, especially after it faced rejection at $0.1156 twice since capitulating in early February.
The main factor that could affect the price of Dogecoin soon
Whale behavior can greatly impact Dogecoin price forecasts, especially as it is a capital-intensive memecoin. For example, since the memecoin bottomed in February, its exchange-traded funds (ETFs) have increased their monthly inflows, recording a total inflow of $5.36 million over four months, according to engadget. Data from SoSoValue.
As a result, spot DOGE ETFs currently hold approximately $14.53 million in assets. If US ETFs continue to accumulate Dogecoin in the near future, memecoin could rise further, Martinez predicted.
However, if ETF investors liquidate their holdings and selling pressure increases, memecoin could decline to retest its multi-month bear market low of around $0.088. Furthermore, whale investors greatly influence retail traders in both the derivatives and spot markets.
