The cryptocurrency market has gradually recovered following President Donald Trump's announcement of tariffs, with Dogecoin's price rising about 3.5% in the last 24 hours.
Although this meme coin has faced ups and downs in recent months, renowned cryptocurrency analyst Ali Martinez is eyeing a historically significant breakthrough moment.
Martinez, known by the handle @ali_charts on X, shared the DOGE price analysis chart on August 7.
According to the chart, Dogecoin is trading within a long-term ascending channel, where the upper line acts as resistance and the lower line acts as support. This channel is characterized by price action within parallel upward sloping lines with higher highs and higher lows over an extended period.
As highlighted in the chart, the years 2017 and 2021 were historical moments that led to two strong rallies of DOGE.
The first time this meme coin surged over 9,000% to $0.01857 by the end of January 2018. The second time it skyrocketed over 13,000% to $0.73355 in May 2021.
In fact, DOGE reached an all-time high (ATH) of $0.7376 during the bull cycle in May 2021.
Martinez argues that there is currently another historical touchpoint.
"Dogecoin $DOGE is trading in a historically strong buy zone, a zone that has repeatedly triggered significant rallies in previous cycles!"
As a pioneering cryptocurrency, Dogecoin is the largest meme coin, with a market capitalization of $34 billion. At the time of writing, its value is $0.2263.
The cryptocurrency analyst makes a shocking prediction about Dogecoin that first appeared on TheStreet on August 8, 2025.