A prominent cryptocurrency analyst believes memetic crypto asset Dogecoin (DOGE) is gearing up for a major price surge in the coming weeks.
Ali Martinez says Historical patterns suggest the top meme asset could reach $1 by mid-April, according to 50,700 followers on social media platform X.
This move represents an increase of nearly 500% from Dogecoin’s current price.
Looking at the trader’s charts, he seems to be predicting that DOGE will rise sharply in the next month or so after breaking above range resistance, similar to what happened in 2017 and 2021.
DOGE is trading at $0.167 at the time of this writing.
Martinez is not the only analyst to predict a $1 DOGE price.
Earlier this week, an anonymous analyst known as Altcoin Sherpa told his 209,800 followers on the social media platform that DOGE could reach the $1 level with the help of billionaire Elon Musk, one of Memecoin’s biggest supporters.
However, Altcoin Sherpa was unsure about the timeline.
“DOGE: Random notes on this:
– I think this is doing stupid things like going above $1. Elon’s firepower is so high that he’s still the king meme.
– When does this happen? I don’t know. It could be now, or it could be six months from now.
-Considering market capitalization, it does not provide the same returns as 2021.
-I think this is a *relatively* safe deal (IMO). I think this has a pretty good chance of doing multiple x. Would that be a better risk-to-reward ratio than aspiring to other things like SOL? I do not know. Go as far down the risk curve as you want.”
Martinez also points out that market sentiment is currently strong toward Ethereum (ETH) challenger Phantom (FTM).
“This phantom chart may look cluttered. However, this highlights a significant increase in whale trading, an increase in FTM whale holdings, and a decrease in FTM balances on exchanges.”
FTM is trading at $0.828 at the time of this writing.
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