A prominent cryptocurrency analyst has recently suggested that the leading meme-inspired cryptocurrency could soon see a massive cryptocurrency price rise “if things go wild,” with the cryptocurrency having the potential to surge to $18.
In a post shared on the microblogging platform X (formerly known as Twitter), popular crypto analyst Ali Martinez noted that we are “very early” in the DOGE bull cycle, and vowed to buy the recent price dip between $0.3 and $0.4 per token, with potential to move to the $18 mark.
https://twitter.com/ali_charts/status/1866244683661283586
The cryptocurrency lost around 8% of its value over the past 24 hours amid a wider cryptocurrency market downturn to now trade at $0.4 per token.
Nevertheless, over the past year the meme-inspired cryptocurrency has surged more than 290% from around $0.09 to its current level, and saw a $0.476 high earlier this month before correcting.
As CryptoGlobe reported, a cryptocurrency analyst who has gained a large following on social media after accurately calling Bitcoin’s 2018 bear market bottom above $3,000 has recently revealed he believes the price of the meme-inspired Dogecoin could soon see a “violent upside move.”
In a post shared on the microblogging platform X with his over 300,000 followers, analyst Bluntz Capital said that DOGE could see the violent upward move and outperform the flagship cryptocurrency Bitcoin when it breaks through a 3-week accumulation pattern.
The analyst, as CryptoGlobe reported, recently revealed he believes DOGE will see a 4x surge in the “final month of the bull [market] as is tradition.”
According to Bluntz, the key to unlocking this surge lies in Dogecoin’s ability to overcome its diagonal resistance level, currently situated around $0.50.
Once this hurdle is cleared, he predicts that the subsequent price movement will be “violent,” mirroring the coin’s previous breakout. A chart shared by Bluntz appears to indicate that he expects Dogecoin to reach a new all-time high above $0.90.
Featured image via Unsplash.
