Leading analyst Ali Martinez predicts that Dogecoin could rise by 4443% to $18, referencing the upward price channel amid the ongoing hype around DOGE.
Dogecoin (DOGE) continues to attract significant attention as the bullish trend in the cryptocurrency market persists with no signs of slowing down.
After a slight drop and against the backdrop of this unexpected turn, analysts claim that DOGE still has significant growth potential compared to recent price action. One of these analysts is renowned expert Ali Martinez.
Dogecoin can still rise by 4443%
In today's post on X, Martinez emphasized that Dogecoin is currently trading in an upward price channel. This channel has two key boundaries: the middle and upper boundaries, which could act as resistance levels as the price moves upward.
Martinez noted that if the price of Dogecoin tests the middle boundary, it could reach around $2.40. However, if the price rises even higher, to the upper boundary of the channel, it could theoretically reach $18.
With the current price of Dogecoin at $0.3962, the meme coin would need to grow by 506% to reach the lower boundary of this target. However, if the upper boundary is reached, it would mean a growth of 4443% from the current value.
Ambitious targets for Dogecoin
This latest bold target from Martinez is based on his earlier analysis, where he suggested an even more aggressive upper target for Dogecoin, using Fibonacci levels of historical trends.