This popular analyst remains a Dogecoin (DOGE) holder and expects a new ATH soon – details

TL;DR

Dogecoin (DOGE) is up 5% daily with one analyst predicting a significant rise based on historical patterns. Some important metrics, such as the Relative Strength Index (RSI), also indicate a potential uptrend nearby. Not a single coin is sold

The largest meme coin by market cap, Dogecoin (DOGE), performed well in the last week, with a 7% price increase. In recent days, however, it briefly lost momentum, with its price falling to around $0.12 before climbing back up to $0.13 (CoinGecko data).

Price DOGE, Source: CoinGecko

According to popular X user Ali Martinez, however, these price changes are part of a bullish path that could take DOGE to a new all-time high in the coming months. He noted that the meme currency consolidated into a descending triangle in 2016 and 2021, followed by a triple-digit price increase later. The situation looks pretty much the same now, with Ali Martínez expecting a similar rise in the short term:

“Dogecoin is playing out the same pattern we’ve seen before. It consolidates in a descending triangle, sees a 140% to 230% increase, and pulls back 56% to 60% before entering a bull run.”

The trader also admitted that he has only been buying more DOGE tokens lately, without parting with a single one.

Other analysts predicting a bright future for the meme currency include user X Mags and KALEO. The former chipped in last month, stating that the build-up phase was over and could soon be followed by a “parabola” stage that could propel the price above $1.

For its part, KALEO argued that DOGE has the “secret” power to move sideways for extended periods, followed by “rapid, vertical growth.” The analyst went further and predicted that it could even surpass Bitcoin (BTC).

This metric indicates an upward trend

The DOGE Relative Strength Index (RSI) also suggests an incoming rally. It measures the change and speed of price movements, ranging from 0 to 100. A ratio above 70 indicates that a correction may be imminent, while lower points indicate a rise. The RSI currently stands at 50.

It’s worth noting that the metric was roughly in the same area in late March and early April, when DOGE’s valuation jumped above $0.22.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!