😱🚀🚀From Dogecoin to the Moon? Analyst Sees 5,900% Increase in DOGE Price Soon
There has been a downturn in the crypto markets recently, with the total market capitalization falling by 7% to $2.62 trillion in two days. Even the big player Bitcoin fell from $ 71,300 to $ 66,000, affecting other cryptocurrencies and taking a hit with the bears dominating the market. But amid this turbulence, meme coins remain the center of attention
The famous crypto analyst Ali Martinez has aroused a new interest in the beloved dog-themed cryptocurrency #DOGE Martinez's analysis offers a new perspective on what's next for Dogecoin.
The Underdog With Potential
Martinez still considers Dogecoin important despite the appearance of new meme coins. Looking at the data from 2018 to 2021, Martinez suggests that #Dogecoin may be ready for a significant rise.
He explains his views with a historical example, in the past, after the DOGE price ended the consolidation period in 2021, he achieved a large price increase, rising from $ 0.002 to $ 0.70. On a similar note, this time the DOGE price has consolidated for three years, from 2022 to 2024, and the breakout seems to have begun. Therefore, Dogecoin can increase by more than 5,000% to reach a new ath.
Despite its current price of $0.20 and a recent drop of 6.5%, he considers DOGE an attractive investment option. He also warns investors not to swing for some shining coins that can be a trap like Degen and will not withstand market volatility like DOGE. Moreover, Dogecoin's unlimited supply and PoW consensus process make it more secure and flexible than other meme coins in the crypto.
Bull or Bear Run - What's Coming?
While Martinez is optimistic, current market trends bring uncertainty. If Dogecoin breaks the $0.188 resistance, it could signal new highs. However, the inability to maintain the momentum could see Dogecoin retest its support levels and possibly fall to $0.169. The coming weeks will decide whether Dogecoin continues its rise or is facing a downturn.
