Crypto markets lit up on Wednesday after popular chart analyst Ali Martinez tweeted that Dogecoin’s next clear upside target is tied to a decisive move above $0.29, a break he said could set the memecoin on a path toward $0.50.
As per CoinMarketCap, Dogecoin is trading in the mid-$0.24 area at the time of writing, a level that still leaves the token below the resistance Martinez identified but comfortably above the lows it held earlier this month.
Momentum and an ETF Tailwind
Martinez’s call arrives as momentum indicators and market events have been shifting in Dogecoin’s favor. Technical data shows bullish readings on daily indicators, for example, recent market coverage points to an RSI above neutral and a MACD crossover.
Traders interpret it as a green light for continued upside if price action cooperates. Beyond on-chain and chart signals, Dogecoin has received an institutional spotlight this month with talk of the first US Dogecoin exchange-traded product potentially launching imminently.
Market sources and ETF-watchers have flagged a Rex-Osprey Dogecoin ETF (ticker rumored as DOJE) as a near-term catalyst, an event market participants say could bring fresh flows into the token class and support higher prices if the product goes live.
Traders Watching $0.29
Technically, the $0.29 level sits above a short-term congestion zone that has capped rallies for weeks. A clean daily close above that band would, in many traders’ playbooks, signal that sellers have been absorbed and that there’s room for the market to test higher resistance levels.
This includes the $0.36–$0.40 area and, in bullish scenarios laid out by Martinez and others, a run toward $0.50. Analysts who have studied the charts argue the same structure could support a roughly 50% rally if the breakout holds.
That scenario is not guaranteed: Dogecoin’s history is one of fast, sentiment-driven swings, meaning breakouts can fail and lead to quick retracements. Recent price predictions have flagged the importance of the $0.21–$0.22 base as critical support that bulls must defend to keep recovery narratives intact.
Analysts’ price calls are guides built on technical patterns and market context, not guarantees. Meme-coins like Dogecoin can be particularly sensitive to headlines, celebrity endorsements, and liquidity shifts; traders should size positions accordingly and consider stop-losses or staged entries if they trade the breakout scenario.
Ali Martinez’s tweet crystallized a bullish road map many traders were already watching: break $0.29 and momentum could pick up toward $0.50, but that outcome hinges on confirmation from price, volume and macro/ETF-related flows. For now, DOGE sits near $0.24, with markets and analysts parsing every chart print and ETF whisper for the next clue.
