Analyst Maps Out 3 Reasons to Be Bullish on Dogecoin (DOGE): But Should You Really Be?

We’re far from the meme-coin hype that rattled crypto markets, where new tokens were popping up left and right to fight for the public’s attention and, more importantly, the capital ready to deploy.

Although the oldest and largest of the bunch was always an exception and has remained a top 20 digital asset for years, its most bullish and attention-grabbing days are behind it. Or are they?

3 Reasons to Be Bullish

Ali Martinez recently outlined the thesis for why investors should take another look at DOGE, starting with the TD Sequential that flashed a major buy signal on the daily chart at prices around $0.081. The asset has since slipped below that level, currently trading beneath $0.08 even after recovering from last night’s flash crash.

Nevertheless, Martinez remains confident the key technical indicator can once again prove right on DOGE, saying:

“The indicator has marked potential turning points before for Dogecoin. This signal is especially interesting because of where it appeared.”

He also pointed out the same $0.081 as a critical support, with URPD data showing roughly 36 billion coins traded around it. Although he admitted that this doesn’t guarantee buyers will defend it, he believes Dogecoin will soon bounce above it. So far, though, it hasn’t been the case.

Lastly, the analyst told his nearly 170,000 followers on X that investors have been buying near the support, with 600 million DOGE added to their bags since October 12. As such, he predicted that the meme coin could skyrocket to $0.16-$0.17 if the $0.081 support holds and DOGE rebounds soon.

5/6 If $0.081 holds and $DOGE rebounds, I’m watching $0.16–$0.17 as a potential profit-taking zone.

Cost-basis data shows roughly 12 billion DOGE were acquired near $0.16 and another 14 billion near $0.17. Those concentrations could make the area difficult to clear. https://t.co/SoTkLDSGv3

— Ali Charts (@alicharts) October 16, 2026

Should You Really Be?

From a broader perspective, the crypto market is far from its best days. It’s not even at its best late Q3/early Q4 sentiment when BTC spiked to $87,000, and many alts followed suit. So the bullish sentiment, because of the entire market, is not really here.

When it comes to picking a DOGE out of the bag, the meme coin niche is nowhere near its 2021 peak. Not even close to the subsequent mania a few years later. In fact, many have lost their footing, including Dogecoin, which is now out of the top 10 digital assets by market cap.

Actual demand for spot DOGE ETFs supports this theory, as net inflows are essentially nonexistent. Of course, we wouldn’t argue with a prominent analyst like Ali Martinez on on-chain signals and technicals, but we’d advise treating any prediction of a 100% surge in these market conditions with caution.