Top Memecoin Could Explode 121x if History Repeats, According to Crypto Analyst
Crypto analyst and digital assets trader Ali Martinez is leaning bullish on the largest memecoin by market cap.
Martinez tells his 77,400 followers on the social media platform X that Dogecoin ( DOGE ) could go up by more than twenty-fold from the current price.
Based on the extrapolation of Fibonacci retracement levels, a technical analysis tool based on the Fibonacci sequence of numbers to forecast price targets as well as identify key support and resistance areas, Dogecoin could skyrocket between 2,016% and 12,069% from the current price, according to Martinez.
“With Elon Musk now influencing the 47th President, Donald Trump, Dogecoin could be primed for a wild ride!
In past bull cycles, once DOGE broke the 0.50 Fibonacci retracement [level], it often rallied to the 1.618 or even 2.272 Fibonacci levels. If history repeats, we could see DOGE hit somewhere between $4 and $23!”
Source: Ali Martinez/X
Dogecoin is trading at $0.189 at time of writing.
Martinez is also leaning bullish on Bitcoin ( BTC ). The crypto analyst says that over the short term, Bitcoin could go up by around 13% from the current level after a correction.
“I think Bitcoin hits $78,000, retraces to $71,500 and then rebounds to $85,000!”
Source: Ali Martinez/X
Bitcoin is trading at $75,044 at time of writing.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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