Dogecoin (DOGE ) Gears Up for a Breathtaking Rebound After Key Correction: Analyst Predicts

• Positive technical signals like RSI divergence and TD Sequential buy indicators suggest Dogecoin may be poised for a strong rebound.
• Elon Musk’s support and potential DOGE integration into payment services could further boost its market performance.

Dogecoin (DOGE) recently experienced a dip in its price following a turbulent August in the crypto market. Following a recent CNF update on Dogecoin seeing a 32% spike in a key metric, discussions arose about a potential DOGE price surge ahead. Crypto analyst Ali Martinez offers some hope, suggesting that DOGE might be gearing up for a significant rebound.

Martinez highlighted a positive divergence in Dogecoin’s Relative Strength Index (RSI) and noted that the TD Sequential indicator is signaling a potential price upsurge. Currently trading at $0.09745, DOGE could see a strong comeback in September if these indicators hold true.

According to today’s CoinMarketCap data, Dogecoin (DOGE) is trading at $0.09943, with a 2.21% increase in the past day and a decline of 4.75% in the past week.

According to a recent tweet by Ali Martinez, a technical and on-chain analyst, Dogecoin is showing a bullish divergence against the RSI on the 4-hour chart, with the TD indicator flashing a buy signal. These positive signs suggest a potential price rebound for $DOGE on the horizon.

#Dogecoin is showing a bullish divergence against the RSI on the 4-hour chart, with the TD indicator flashing a buy signal. These positive signs suggest a potential price rebound for $DOGE on the horizon. pic.twitter.com/kxlQQK7ses

— Ali (@ali_charts) September 2, 2024

Additionally, DOGE remains a top 10 cryptocurrency with a market cap of $15.6 billion. Tesla and SpaceX CEO Elon Musk, a known DOGE supporter, could also influence its price. A recent lawsuit accusing Musk of manipulating DOGE’s price was dismissed, allowing him to continue promoting the coin, which may include integrating it into X’s upcoming payment service.

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