Crypto
analyst
Ali
Martinez

predicted
that
Dogecoin
(DOGE)
could
soon
enjoy
a
100%
price
gain.
He
also
elaborated
on
what
needs
to
happen
for
the

foremost
meme
coin

to
enjoy
such
a
parabolic
move.  

How
Dogecoin
Will
Rise
To
$0.322

Martinez
explained
in
an
X
(formerly
Twitter)

post

that
Dogecoin
is
currently
encountering
significant
resistance
between
$0.166
and
$0.171,
a
range
where

75,500
addresses

have
acquired
almost
10
billion
DOGE
tokens.
The
analyst
claimed
that

Dogecoin’s
price

could
double
if
it
breaks
out
from
this
range,
with
$0.322
being
the
next
“key
resistance”
for
DOGE. 

 

Martinez’s
analysis
suggests
that
DOGE’s
price
has
failed
to
experience
a
bullish
reversal
for
some
time
because
the
meme
coin
continues
to
face
significant
selling
pressure
from
these
holders
who
had
bought
the

meme
coin

between
$0.166
and
$0.171.
These
10
billion
tokens
purchased
by
these
holders
represent
a
considerable
amount
of
Dogecoin’s
circulating
supply,
which
is
why
their
sell
orders
greatly
impact

Dogecoin’s
price. 

However,
as
Ali
predicted,
Dogecoin
could
make
a
parabolic
move
to
the
upside
if
it
breaks
out
from
this
resistance
level.
This
is
especially
true
considering
that
the
number
of
holders
who
bought
the
meme
coin
above
this
range
(up
until
$0.322)
isn’t
enough
to
send
Dogecoin’s
price

spiraling
down

even
if
another
wave
of
sell-offs
occurs
after
Dogecoin
enjoys
a
break
out
above
$0.171. 

Martinez’s
prediction
follows
crypto
analyst
Mag’s

recent
prediction

that
DOGE
is
poised
for
a
700%
price
explosion,
which
could
send
it
to
$1.7.
The
analyst’s
prediction
further
cemented
the
belief
that
the
foremost
meme
coin
would
rise
to
$1
at
some
point
in
this
market
cycle. 

 

Interestingly,
Martinez
had

predicted

in
March
that
history
suggested
that
Dogecoin
could
hit
$1
by
mid-April,
although
that
didn’t
happen.
However,
it
confirmed
that
this
price
level
was
on
the
cards
for
DOGE
and
a
high
that
could
be
eventually
attained
in
this
bull
run. 

Exciting
Days
Ahead
For
DOGE

Crypto
analyst
The
Crypto
Dog
recently
shared
his
bullish
sentiment
towards
DOGE,
claiming
that
there
are
still
exciting
times
ahead
for
the
foremost
meme
coin.
He
acknowledged
the
fact
that
the
meme
coin
market
has

become
saturated

but
added
that
there
is
still
a
“charm
to
her
(Dogecoin)
lumbering.”

He
also
shared
his
belief
that
DOGE
still
has
a
“place”
in
the
grand
scheme
of
things,
suggesting
that
the
foremost
meme
coin
will
still
be
a

top-gainer

in
this
bull
market,
although
attention
seems
to
have
turned
to
newer
meme
coins
like

Dogwifhat

and
Pepe.
The
Crypto
Dog
even
went
as
far
as
stating
that
Dogecoin
will

outperform
Bitcoin

in
this
market
cycle. 

At
the
time
of
writing,
DOGE
is
trading
at
around
$0.16,
up
almost
2%
in
the
last
24
hours,
according
to

 

data

from
CoinMarketCap. 

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

Go to Source
Author: Scott Matherson

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