Dogecoin Poised for Surge as Analyst Predicts Potential Bull Run
A popular cryptocurrency analyst is forecasting significant growth for Dogecoin (DOGE), suggesting that the memecoin could be poised for a major rally.
Ali Martinez highlights DOGE’s potential based on its current price compared to growing public interest. He points to Google search trends as a measure of the increasing attention on Dogecoin, noting that interest has not yet reached its peak.
I read people saying #Dogecoin will not go higher because of “market cap,” “sell the news,” “better memes.” Well, when you look at the interest in $DOGE over time, it isn’t even at peak popularity yet.
Long story short, #DOGE has waaay more room to grow. #HODL pic.twitter.com/IK6KKIEtQO
— Ali (@ali_charts) November 17, 2024
Martinez challenges the notion that Dogecoin’s market cap limits its growth, asserting that there is still plenty of room for the asset to rise. He also observes that DOGE may be forming a bull flag pattern on the hourly chart, a technical signal that typically suggests a potential breakout. He predicts that if the coin closes above $0.40 on an hourly basis, it could see a sharp rise toward $0.85.
READ MORE: MARA and Semler Ramp Up Bitcoin Holdings in Strategic Shift
Currently, DOGE is trading at $0.3742, having gained 3.6% over the last 24 hours but still trading well below its all-time high of $0.731.
In a broader market outlook, Martinez also addresses Bitcoin’s potential. He suggests that the leading cryptocurrency might overcome a bearish signal and break through the $100,000 barrier, noting that a sustained daily close above $91,900 could mark the start of a new bull run for BTC.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
