Dogecoin (DOGE) Surges: Parabolic Rebound Begins a Crazy Journey, $1 Becomes a Launchpad, $20 is Not a Dream!
Martinez shared a chart showing that if Dogecoin can reach the middle boundary of the ascending channel, its price could rise above $1. Specifically, this middle boundary sets Dogecoin's target price at $1.90. Meanwhile, if Dogecoin can break through the upper limit of the channel, its price could even reach $20.
This prediction suggests that Dogecoin may experience a significant surge if strong market momentum appears in the future, attracting more investor attention.
Martinez shared this chart and mentioned historical trends indicating that Dogecoin is about to undergo a parabolic rebound. He pointed out that similar trends have occurred in the past: in 2017, when Dogecoin began its parabolic rise, it soared by 212%, then retraced by 40%, and subsequently surged by 5,000%. By 2021, Dogecoin rose by 476%, retraced by 56%, and then skyrocketed by 12,000%.
Therefore, Martinez believes that Dogecoin's price is very likely to follow this historical pattern again. In the current market cycle, Dogecoin has already risen by 440%, then retraced by 46%. If history repeats itself, Dogecoin is expected to experience a similar parabolic rebound of 5,000% or 12,000% once more.
The rebound of Dogecoin is imminent. He noted that the TD Sequential has issued a buy signal on the Dogecoin daily chart, expecting the price to rebound. According to his chart analysis, Dogecoin could rise to $0.48 in the short term.
Combining the current market sentiment and technical signals, Dogecoin seems to be building momentum and could soon experience a strong rebound.
Dogecoin's price is approaching the upper half of the second wave of increases, and while it has not yet touched the orange line on the attached chart, it is very close to this key level. According to his analysis, Dogecoin is likely to soon resume its upward trend and begin a new upward phase.
