A popular crypto analyst believes that the meme crypto asset Dogecoin (DOGE) is gearing up for a major price explosion in the coming weeks.
Ali Martinez To tell His 50,700 followers on social media platform X suggest historical patterns suggest the top meme asset could reach $1 by mid-April.
This move represents an almost 500% increase from Dogecoin's current price.
Looking at the trader's chart, he seems to be predicting a meteoric rise in the next month or so after DOGE breaks above its range resistance, similar to what happened in 2017 and 2021. .
At the time of writing, DOGE is trading at $0.167.
Martinez isn't the only analyst who predicted DOGE would reach $1.
Earlier this week, a pseudonymous analyst known as Altcoin Sherpa told his 209,800 followers on the social media platform that he is one of the memecoin's biggest cheerleaders, billionaire Elon Musk. If there is, DOGE could reach the $1 level.
However, Altcoin Sherpa was not very confident about the schedule.
“Doge: Some random notes on this:
-I think this is doing something stupid like going $1-plus. Elon has too much firepower and is still the king meme.
-When does this happen? I don't know. It could be now, or it could be six months from now.
– Considering market cap, you won't get the same returns as in 2021.
-In my opinion, this is a *relatively* safe trade (IMO). I think it's very likely that this will do some x. Is it a better risk/reward ratio than aspiring to something else like SOL? I don't know. Go as far down the risk curve as you like. ”
Martinez also noted that market sentiment is currently strong towards Ethereum (ETH) challenger Phantom (FTM).
“This Fantom chart may look messy, but it highlights a significant increase in whale trading, an increase in FTM whale holdings, and a decrease in FTM balances on exchanges.”
At the time of writing, FTM is trading at $0.828.
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