A well-known crypto analyst is suggesting that Dogecoin could skyrocket to $18 if things really take off. Sounds like boy astronomy, but let’s see what’s the deal.
The bull cycle begins
In a post on X, crypto analyst Ali Martinez shared his thoughts on Dogecoin, stating that we’re still in the early stages of a bull cycle for DOGE.
He’s even eyeing the price dip, which has seen DOGE trading between $0.30 and $0.40, as a prime buying opportunity.
If his predictions hold true, we might just see that crazy jump to $18.
Now, let’s not gloss over the fact that Dogecoin has taken a bit of a hit lately, losing about 8% of its price in the last 24 hours and currently sitting at $0.40. But don’t let that fool you, this is how memecoins work.
Over the past year, DOGE has skyrocketed by more than 290%, jumping from around $0.09 to its current price. Earlier this month, it even hit a high of $0.476 before taking a breather.
Man’s best friend
Another analyst making big, but more belivable predictions is Bluntz Capital, who has built a solid following on social media after accurately predicting Bitcoin’s bear market bottom back in 2018.
He believes Dogecoin is poised for a violent upside move, especially if it breaks out of its three-week accumulation pattern.
Resistance and support
Bluntz thinks that if DOGE can break through its resistance level around $0.50, we could see some serious price action.
He predicts that once this barrier is crossed, Dogecoin’s price movement will be “violent,” similar to its previous breakout patterns.
His charts even suggest that DOGE could reach new all-time highs above $0.90.
So, while Dogecoin may be down for now, the analysts are clearly optimists about its future potential. Who knows? Dogecoin already caused some huge surprises before.
Have you read it yet? Pay me in Bitcoin’
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