Analyst Says Dogecoin Price Could Explode 4,500% To $18 From Here If This Happens
12 Novembre 2024 - 1:00PM
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Crypto analyst Ali Martinez predicted that the Dogecoin price could
rally significantly, leading to double figures for DOGE. This comes
as the crypto market continues to trend upward, with Dogecoin
standing out as one of the top gainers. Dogecoin Price To
Explode And Reach $18 In an X post, Martinez predicted that the
Dogecoin price could explode by 4,500% and rally to $18. He stated
that this will happen through a test of the middle or upper
boundary of the channel, which puts the DOGE target at $2.40 or
$18. Dogecoin will need to test the upper boundary to reach the $18
target, while only a test of the middle boundary will put the price
at $2.40. Related Reading: Bitcoin Price Signals Bullish
Continuation With SuperTrend Rising, Here’s The Next Target After
Beating $81,000 In an earlier X post, Ali Martinez offered a more
bullish outlook for the Dogecoin price. He predicted that the
foremost meme coin could rise to as high as $23.26 in this bull
run. He claimed that Dogecoin was about to go “parabolic” and cited
historical patterns to prove why such a parabolic rally could
happen. Based on historical patterns, the analyst stated that
a potential top might lie between 1.618 and 2.272 Fibonacci levels,
which would put the Dogecoin price between $3.95 and $23.26.
Martinez also alluded to Elon Musk’s impact on Dogecoin when he
previously stated that DOGE could reach $23 in this market
cycle. The Dogecoin price has been on a massive bull run
since Donald Trump won the elections, partly because of Elon Musk’s
proposed Department of Government Efficiency (D.O.G.E), which would
positively impact the meme coin. For context, the Doogecoin is up
139% since Trump’s victory. Update On The DOGE Bull Run
Crypto analyst Master Kenobi, who rightly predicted the start of
the Dogecoin bull run, has provided an update on what could happen
next for the Dogecoin price. He stated that DOGE could range
between $0.33 and $0.40 for a while before it pushes to its current
all-time high (ATH) at $0.73. Related Reading: Bitcoin Price
Enters ‘Second Breakout Of The Cycle,’ Analyst Puts Peak Above
$150,000 The analyst further remarked that there will likely be a
potential rejection in the initial phase, which he claimed is
welcome. This rejection will then be followed by a consolidation
period of around one to two weeks, similar to the previous cycles.
The analyst also raised the possibility that the Dogecoin price is
already replicating its price action in the last cycle. If
so, Master Kenobi remarked that this sets the Dogecoin price for a
breakout and strengthens the probability of a continued upward
trend. Crypto analyst Trader Tardigrade predicted that Dogecoin
could rise to as high as $30 if it mirrors its price action in the
2021 bull run. At the time of writing, the Dogecoin price is
trading at around $0.41, up over 48% in the last 24 hours,
according to data from CoinMarketCap. Featured image created
with Dall.E, chart from Tradingview.com
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