Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Analyst Predicts Dogecoin Could Surge Past $1 Soon

Analyst Predicts Dogecoin Could Surge Past $1 Soon

Cryptodnes2024/12/27 07:33
By:Cryptodnes

A well-known crypto expert is suggesting that Dogecoin (DOGE), one of the most popular memecoins, could be on the verge of a major surge similar to its previous explosive rallies.

Ali Martinez highlighted how DOGE’s current behavior is reminiscent of its rapid climbs in 2017 and 2021, which followed substantial price corrections.

In 2017, Dogecoin skyrocketed by 212%, then corrected by 40%, only to surge an incredible 5,000%. In 2021, after rising 476%, it faced a 56% pullback, but then shot up by 12,000%.

According to Martinez, the pattern could be repeating now in 2024, as Dogecoin has risen 440% before pulling back 46%. He believes that this could set the stage for another parabolic rally.

READ MORE:
XRP Poised for a Historic Surge, Analyst Predicts Major Bullish Breakout

Martinez’s chart analysis further suggests that DOGE could surpass the $1 mark if this pattern holds true. Additionally, he points to a bullish signal on Dogecoin’s daily chart, highlighted by the Tom DeMark (TD) Sequential Indicator, a tool used by traders to forecast potential trend reversals.

Martinez indicates that the indicator is showing a buy signal for DOGE, which could suggest a price rebound is on the horizon.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Montenegro’s Justice Minister signs order to extradite Do Kwon to US

Nearly two years after Kwon's apprehension, the extradition battle between the US and South Korea comes to an end.

CryptoSlate2024/12/28 00:44

Solana co-founder Stephen Akridge accused of misappropriating ex-wife’s crypto gains

Although the amount is not specified in the lawsuit, Stephen Akridge's ex-wife claims it is "millions of dollars."

CryptoSlate2024/12/28 00:44

Why Pi Network KYC is important before 2025 Mainnet launch

The goal is to reduce the gap between the number of KYC-approved users and those who have migrated to the Mainnet.

Cryptotimes2024/12/28 00:33