Dogecoin surged 8% in a single day! Analyst: DOGE can still surge 80 times and is expected to soar all the way to $10!
As Bitcoin ($BTC) ushered in a wave of rebound, the king of meme coins Dogecoin ($DOGE) also benefited from it, and its increase was even greater than that of Bitcoin.
As of writing, the price of Dogecoin ($DOGE) was $0.1242, with a maximum increase of more than 8% in the past 24 hours and 15.3% in the past 7 days, outperforming Bitcoin ($ BTC)'s 11% increase in a single week.
At the critical moment of Dogecoin ($DOGE)'s rebound, well-known market analyst Ali Martinez also boldly predicted on the social platform X that Dogecoin may break through the sky-high price of $10, which is at least more than 80 times the current price! In a tweet on Wednesday (October 16), he showed a chart depicting the rising wedge pattern of Dogecoin on the weekly chart. He pointed out that Dogecoin is at a critical stage of breaking through the channel. If it successfully breaks through the tip of the wedge, exponential growth may occur in the future. If $DOGE really reaches $10, the expected increase will be as high as 8,032%. However, is such a bold prediction "too optimistic"? Many people also have doubts. From the perspective of market value, if the price of Dogecoin ($DOGE) reaches $10, the total market value will exceed $1.48 trillion, even exceeding the current market value of Bitcoin ($BTC), which currently has a market value of about $1.33 trillion. Experts pointed out that to reach such a high market value, Dogecoin ($DOGE) must go through multiple bull market cycles and remain attractive during these cycles. With the continued growth of demand in the overall cryptocurrency market, it is indeed possible to reach $10 one day in the future. However, experts also jokingly said that if the price of Dogecoin ($DOGE) reaches $10, the price of Bitcoin ($BTC) will probably reach $1 million by then. Therefore, although Ali Martinez's prediction can bring confidence to long-term investors, in the short term, the price of $10 is obviously not realistic.
