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Analyst Says Dogecoin Price Could Explode 4,500% To $18 From Here If This Happens

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Cryptographic analyzer Ali Martinez Expect the price of Dogecoin to rise significantly, leading to double figures for DOGE. This comes as the cryptocurrency market continues its upward trend, with Dogecoin emerging as one of the biggest gainers.

Dogecoin price explodes to $18

In X post, Martinez Expect the price of Dogecoin to rise by 4,500% and reach $18. He stated that this would happen by testing the middle or upper border of the channel, which would put the DOGE target at $2.40 or $18. Dogecoin would need to test the upper bound to reach the $18 target, while only testing the middle bound would put the price at $2.40.

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Source: X

In a previous X post, Ali Martinez gave a more optimistic outlook on the price of Dogecoin. He expected the first meme coin to rise to $23.26 That’s bull run. He claimed that Dogecoin was on the verge of going “parabolic” and cited historical patterns to prove why such a parabolic rally was occurring.

Dogecoin price 2
Source: X

Based on historical patterns, the analyst stated that the potential top could fall between 1,618 and 2,272. Fibonacci levelswhich will put the price of Dogecoin between $3.95 and $23.26. Martinez also hinted at Elon Musk’s influence on Dogecoin when he mentioned it previously DOGE can reach $23 In this market cycle.

The price of Dogecoin has seen a massive rise since Donald Trump won the election, partly due to the Department of Government Efficiency (DOGE) proposed by Elon Musk, which would positively impact the meme coin. For context, the price of Doogecoin has risen by 139% since then Trump’s victory.

Update on DOGE Bull Run

Cryptocurrency analyst Master Kenobi, who rightly predicted a start Dogecoin bull raceprovided an update on what could happen next for Dogecoin price. He stated that DOGE could range between $0.33 and $0.40 for a while before rising to an all-time high (ATH) of $0.73.

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Dogecoin price 3
Source: X

The analyst also noted that there is likely to be a possible rejection in the initial phase, which he claimed is welcome. This rejection will be followed by a consolidation period of about one to two weeks, similar to the rejection period Previous courses. The analyst also raised the possibility that Dogecoin price is actually repeating the price action of the last session.

If so, Mr. Kenobi noted that this sets Dogecoin price up for a breakout and enhances the potential for the uptrend to continue. Cryptocurrency analyst Trader Tardigrade predicts that Dogecoin will rise to $30 if the price action reverses to the upside of 2021.

At the time of writing, Dogecoin price is trading at around $0.41, up more than 48% over the past 24 hours, according to Data From Coin Market Cap.

Dogecoin price chart from Tradingview.com
DOGE pushes above $0.4 | source: Doji USDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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