A widely respected cryptocurrency analyst believes that top meme asset Dogecoin (DOGE) could begin a parabolic rise this month.
In a new strategy session, cryptocurrency trader Ali Martinez shared charts with his 76,400 followers on social media platform X, suggesting that DOGE is poised to spark a rally based on historical trends.
According to Martinez, November tends to be a month when meme coins surge, and traders should look for sustained closes above $0.20 for confirmation.
Dogecoin is trading around $0.159 at the time of this writing. The ninth-largest cryptocurrency asset by market capitalization is down more than 7% in the last 24 hours, but remains up about 12% over the past seven days.
Martinez is also bullish on other large altcoins, such as interoperable blockchain Polkadot (DOT).
“No need to chase when so many solid projects are still on your radar! Take Polkadot, for example. I think I’m ready for a breakthrough!”
Trader charts suggest that DOT could surge past the $6.00 price tag by the end of the year. DOT is trading at $3.92 at the time of this writing. The 21st-largest cryptocurrency asset by market capitalization has fallen nearly 7% in the past 24 hours.
Martinez also said that dogwifhat (WIF), a memecoin based on Solana (SOL), is currently preparing to rise to $3.
WIF is trading at $2.38 at the time of writing, down nearly 8% on the day.
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