Analyst Predicts DOGE's Next Double-Digit Surge

Dogecoin Faces Resistance as Analysts Eye Potential Breakout Amidst Volatile ETF Flows

The original meme coin, Dogecoin, saw its attempt to breach the $0.10 resistance level thwarted earlier this week. Despite this setback, the cryptocurrency has since recovered from its subsequent multi-day low.

Popular analyst Ali Martinez suggested that a breakout could be on the horizon, but emphasized that the asset must first overcome a critical resistance point. However, recent trends in exchange-traded fund (ETF) inflows do not appear to support this optimistic outlook.

Dogecoin had briefly surged to $0.104 during a broader market rally on September 22-23. This upward momentum was short-lived, as bearish sentiment quickly took hold, driving the price down sharply to $0.092 within hours. Since then, Dogecoin has made several attempts to retake the $0.10 resistance, all without success.

The most recent rejection occurred on Friday, coinciding with a market-wide downturn that saw Bitcoin fall by over $3,500. Dogecoin experienced a dip from $0.098 to $0.091 before staging a modest rebound to the $0.092-$0.093 range over the weekend.

Martinez observed that Dogecoin’s price action on the 4-hour chart continues to show consolidation within a descending triangle pattern. According to his analysis, a decisive move above $0.095, with a confirmed close on the same timeframe, would signal a bullish breakout. The analyst, who previously highlighted that Dogecoin whales had acquired over 1.14 billion tokens in a four-day period, predicted that a subsequent 14% surge to $0.106 could follow if the meme coin successfully reclaims this resistance level.

“As price approaches the apex, the structure is becoming increasingly compressed, and a breakout could be getting closer,” Martinez commented.

The final full business week of September saw an unprecedented development for Dogecoin: notable interest in spot ETFs tracking its performance. Total net inflows reached a new record of nearly $2.90 million. While this figure pales in comparison to the inflows seen by Bitcoin, Ethereum, XRP, or Solana ETFs, it represented a significant milestone for the meme coin.

This initial surge in ETF interest was viewed positively at the time, but the momentum failed to carry into the following trading week. Data from SoSoValue indicates that interest waned on Monday, though inflows returned on Tuesday with $878,790. However, investors withdrew $551,430 the next day, and no significant inflows were reported on October 1 and 2.

Consequently, Dogecoin’s institutional support appears to remain fragile. Nevertheless, the asset has historically been more influenced by retail trading activity rather than large institutional players.