Crypto analyst and digital asset trader Ali Martinez is leaning bullishly on the largest memecoin by market cap.
Martinez tells According to its 77,400 followers on social media platform X, Dogecoin (DOGE) could rise more than twentyfold from its current price.
Based on the extrapolation of Fibonacci retracement levels, a technical analysis tool based on the Fibonacci sequence of numbers to predict price targets and identify key support and resistance areas, Dogecoin could rise between 2,016% and 12,069% from the current price. Martinez.
“With Elon Musk now having influence over the 47th President, Donald Trump, Dogecoin could be set for a wild ride!
In previous bull cycles, DOGE once broke the 0.50 Fibonacci retracement [level]it often rose to the Fibonacci level of 1,618 or even 2,272. If history repeats itself, we could see DOGE hit anywhere from $4 to $23!”
Dogecoin is trading at $0.189 at the time of writing.
Martinez is also leaning bullishly on Bitcoin (BTC). The crypto analyst say that Bitcoin could rise by about 13% from current levels in the short term after a correction.
“I think Bitcoin hits $78,000, returns to $71,500, then returns to $85,000!”
Bitcoin is trading at $75,044 at the time of writing.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
