A widely followed crypto analyst says that meme asset Dogecoin (DOGE) is facing a crucial turning point while updating his outlook on a handful of other altcoins.

In a new thread, crypto trader Ali Martinez tells his 138,500 followers on the social media platform X that resistance around the $0.26 level is key for the dog-themed digital asset.

The trader shares a chart suggesting that $0.26 is a price area that appears to be a trend shift level for DOGE.

“This level remains the most important resistance wall for Dogecoin.”

Dogecoin is trading for $0.22 at time of writing, a 3.3% decrease during the last 24 hours.

Moving on to smart contract platform Solana (SOL), Martinez says that a breakout past $186 could trigger an exponential rally that sends the asset shooting past a $3,000 price tag.

“A breakout here could trigger a parabolic bull run for Solana!”

Solana is trading for $172 at time of writing, a 2.6% decrease on the day.

Turning his attention to the payments platform Stellar (XLM), Martinez says that it could witness a correction after moving below a diagonal support.

“XLM could be breaking out of an ascending channel, potentially targeting $0.26!”

XLM is trading for $0.28 at time of writing, a 1.5% decrease on the day.

Concluding his analysis with the native asset of the layer-1 platform Toncoin (TON), the analyst notes that it too looks to be on the cusp of breaking down of a symmetrical triangle pattern.

In technical analysis, a move below the diagonal trendline of a triangle pattern suggests that an asset is primed for corrective moves.

“Watch out! Toncoin could be breaking out of a symmetrical triangle.”

TON is trading for $3.00 at time of writing, a fractional increase on the day.

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Generated Image: Midjourney

Dogecoin is losing altitude after a month-long advance that climaxed at an intraday high of $0.259 on May 11 before momentum cracked. The memecoin is changing hands near $0.228 today, capitalising the network at roughly $34 billion and leaving it 69$ below its 2021 peak.

From a purely statistical angle, the retreat is modest: Dogecoin is still up about 35% from the early-May floor at $0.164, yet the pattern of lower highs that has emerged since mid-month has sharpened traders’ focus on whether the token’s April-to-May impulse was corrective rather than impulsive.

Dogecoin Price Crash Incoming?

Technical analyst More Crypto Online argues in his latest YouTube briefing that the structure of this advance “rallied in three waves like many other crypto charts into the Friday swing high,” lacked the five-wave punch normally required to sustain upside continuation, and has already reversed into what looks like “a micro five-wave move down.”

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The Elliottician stated: “Doge rallied in three waves like many other crypto charts into the Friday swing high,” he told viewers at the top of the clip, stressing that the advance from the April 26 trough “was just not convincing.”
The essence of his argument is that Dogecoin’s leap from $0.164 to the May 11 intraday peak at $0.259 never produced the five-wave structure that Elliott Wave theory associates with trend-sustaining moves.

Instead, price action has already begun what he counts as a “micro five-wave move down,” thereby signalling that the April–May rise likely formed only the B-wave of a larger A-B-C correction. “As soon as the price breaks below the red dotted line at $0.21, the scenario for a larger pullback in the yellow count becomes confirmed,” he said, adding that nothing on the chart currently invalidates that view.

The “yellow” scenario envisages an extended C-wave unfolding in five sub-waves and targeting the 38.2 %–78.6 % Fibonacci retracement cluster derived from the April rally. In plain numbers, that translates to $0.199–0.183 in the coming sessions.

“Testing $0.19.9 to $0.183 cents over the coming sessions seems like quite a probable outcome,” More Crypto Online said. “We already have a five-wave decline from yesterday’s high, so we have to be ready for potentially just corrective rallies and then a sharp decline in wave three.”

That roadmap leaves room for a brief recovery wave—he calls it wave 2 of C—to probe initial resistance at $0.23.3 to $0.24.7. Yet the analyst cautioned that any bounce should remain “only corrective” in character; a decisive hourly close above $0.247 cents would be needed to resurrect the bullish “orange” count, which allows for one final extension of the previous advance.

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“Any decisive break above $0.247 cents might mean we’re already in the extension to the upside,” he acknowledged, though he quickly added that such an outcome “would again be invalidated with a break below the dotted red line.”

Macro context is doing Dogecoin no favours. With Treasury yields pushing toward new quarterly highs and Fitcoin dominance creeping up, liquidity has drained from high-beta altcoins. Even January’s debut of the Grayscale Dogecoin Trust, which helped funnel institutional money into the asset earlier this year, has not arrested the rotation out of fringe tokens during May’s risk-off stretch.

From a market-structure standpoint, the token’s immediate fate boils down to whether bulls can defend the $0.21 pivot called out in the analysis. A daily close beneath that threshold would give bears license to press toward $0.19, while a break of the $0.247-cent barrier is the only development the analyst concedes could “reduce the potential for that decline.”

At press time, DOGE traded at $0.228.

Featured image created with DALL.E, chart from TradingView.com

Crypto analyst DOGECAPITAL has highlighted a Bitcoin-like pattern on the Dogecoin chart, which could trigger a parabolic rally. Based on his analysis, this rally could send the DOGE price above $10, marking a new all-time high (ATH) for the top meme coin. 

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The Bitcoin Historical Pattern Which Could Send Dogecoin Above $10

In an X post, DOGECAPITAL predicted that the Dogecoin price could rally above $10. He alluded to the weekly chart and compared the historical price cycles of Bitcoin and DOGE, while pointing out what tends to happen when BTC closes a weekly candle at all-time highs (ATHs). In the first cycle, which was in 2017, DOGE surged and achieved a 94x gain in the following months after BTC closed the week at its ATH. 

In the second cycle, which was in 2020, Dogecoin witnessed a more explosive 190x rally in the following months after Bitcoin closed the week at new all-time highs. Meanwhile, again in the third cycle this year, BTC is currently trading around its ATHs. However, it needs to confirm a weekly close above this level to validate a DOGE breakout. 

Based on history, DOGECAPITAL noted that this could set the stage for Dogecoin to “dramatically” outperform Bitcoin again. DOGE could also surpass its gains in previous cycles. The analyst’s accompanying chart showed that the meme coin could even rally to as high as $69 on this explosive move. 

The analyst urged market participants to watch the weekly close as the last two times Bitcoin confirmed new highs, Dogecoin didn’t just surge but “launched.” In the short term, crypto analyst Ali Martinez indicated that the foremost meme coin could rally to $0.31. In an X post, he stated that DOGE appears to be breaking out of a bull pennant, which points to this target. 

DOGE’s Uptrend Is Still Strong

In an X post, crypto analyst Trader Tardigrade stated that Dogecoin’s uptrend remains pretty much solid. His accompanying chart showed that the meme coin still has enough room to rally to the much-anticipated $1 price level. In another analysis, the analyst stated that DOGE will likely break the recent high at $0.25. 

Meanwhile, crypto analyst Master Kenobi stated that his short-term roadmap for Dogecoin is going according to plan so far. His chart showed that he expects the meme coin to consolidate in this range for 17 days before it then breaks out and rallies to $0.75 sometime in June. This will mark a new ATH for the DOGE price, with its current all-time high at $0.73. 

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At the time of writing, the Dogecoin price is trading at around $0.2286, down over 6% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Unsplash, chart from TradingView