Crypto analyst Ali Martinez has predicted that the Dogecoin price could rally significantly, reaching double figures for DOGE. As the crypto market trends upward, Dogecoin stands out as one of the top gainers. Martinez, in a recent social media post, suggested that the Dogecoin price could explode by 4,500% and rally to $18. According to Martinez, this surge could occur through a test of the middle or upper boundary of the channel, setting targets at $2.40 or $18. Dogecoin will need to test the upper boundary to reach the $18 target, while testing the middle boundary would place the price at $2.40.
In a previous post, Ali Martinez offered an even more bullish outlook for Dogecoin, predicting that the meme coin could rise as high as $23.26 during this bull run. He indicated that Dogecoin was about to go “parabolic” and cited historical patterns to support this outlook. Martinez stated that a potential peak might lie between the 1.618 and 2.272 Fibonacci levels, situating the Dogecoin price between $3.95 and $23.26. He also alluded to Elon Musk’s influence on Dogecoin, recalling that Musk had previously suggested DOGE could reach $23 in this market cycle.
Dogecoin’s price has been on a substantial bull run since Donald Trump won the elections, partly influenced by Elon Musk’s proposed Department of Government Efficiency (D.O.G.E), which is expected to boost the meme coin. For context, Dogecoin is up 139% since Trump’s victory.
Crypto analyst Master Kenobi, who correctly predicted the start of the Dogecoin bull run, has provided an update on what might come next for the DOGE price. He forecasted that Dogecoin could trade between $0.33 and $0.40 for a period before pushing towards its current all-time high of $0.73. Kenobi also mentioned that there will likely be an initial phase of rejection, which he sees as a positive development. This rejection would then be followed by a consolidation period of around one to two weeks, akin to previous cycles. The analyst suggested that Dogecoin might already be replicating its price action from the last cycle, setting the stage for a breakout and increasing the likelihood of a continued upward trend.
Crypto analyst Trader Tardigrade predicted that Dogecoin could rise as high as $30 if it repeats its price action from the 2021 bull run. At the time of writing, Dogecoin is trading around $0.41, up over 48% in the last 24 hours, according to CoinMarketCap.
