Analyst Predicts Dogecoin Price Could Surge 4,500% to $18
Crypto analyst Ali Martinez predicts a potential significant rally for Dogecoin, possibly reaching double digits as the overall crypto market trends upward. Dogecoin is currently among the top gainers.
Dogecoin Price Predictions
Martinez forecasts that Dogecoin could surge by 4,500%, targeting $18. This projection relies on testing the upper boundary of its price channel, with an alternative target of $2.40 if only the middle boundary is tested.
In another post, he suggested Dogecoin could rise to $23.26 during this bull run, asserting that historical patterns support such a parabolic increase. He referenced Fibonacci levels indicating a potential price range between $3.95 and $23.26.
The recent bull run has been influenced by factors including Donald Trump's election victory and Elon Musk's proposed Department of Government Efficiency (D.O.G.E). Since Trump's win, Dogecoin has risen by 139%.
Current Status of the DOGE Bull Run
Analyst Master Kenobi, who correctly anticipated the Dogecoin bull run, suggests that DOGE may trade between $0.33 and $0.40 before attempting to reach its all-time high of $0.73. He expects an initial rejection followed by a consolidation phase lasting one to two weeks, similar to previous cycles.
If current trends continue, a breakout may occur, enhancing the likelihood of sustained upward movement. Trader Tardigrade estimates that Dogecoin could potentially reach $30 if it replicates its 2021 bull run performance.
As of now, Dogecoin is trading at approximately $0.41, reflecting a 48% increase in the last 24 hours, based on data from CoinMarketCap.
