Cryptocurrency analyst Ali Martinez has an optimistic story about the leading meme coin, Dogecoin (DOGE). Based on his recent analysis, Dogecoin will rise to $1 sooner or later.
Dogecoin chart flashes a buy signal
Martinez mentioned in a post on X (formerly Twitter) that TD Sequential has issued a buy signal on the Dogecoin daily chart. According to him, this indicates that the meme coin could experience a “one to four day price increase.” In a follow-up post, Martinez offered a more optimistic outlook for DOGE, suggesting the uptrend could last longer.
DOGE/USDT Daily Chart | Source: X
He claims that Dogecoin has formed its classic fractal again, as the meme coin “is currently consolidating after breaking above a descending triangle.” Based on past data, he thinks DOGE could “skyrocket to $1 in the coming weeks.”
DOGE/USDT Weekly Chart | Source: X
Other crypto analysts, such as Mikybull Crypto, Altcoin Sherpa, and DonAlt, have also predicted that Dogecoin will rise to $1 at some point during this bull cycle. However, Martinez's analysis shows that a DOGE increase to $1 could happen sooner than expected.
One factor that may have played a key role in Dogecoin's early rise to this price level is institutional interest in the meme coin. This interest will skyrocket after Coinbase launches DOGE futures for its institutional clients on April 29. Depending on their level of optimism, these institutional investors can could inject an impressive amount of liquidity into the Dogecoin ecosystem, which could lead to further price increases.
The road to price increase is wide open
Cryptocurrency analyst Myles G mentioned in a post on X that Dogecoin has bottomed and boldly stated that this is a low that the market cannot see again. This means that DOGE will continue its bullish price action from now on.
DOGE/USDT 4-hour chart | Source: X
Cryptocurrency analyst Kevin also recently recommended another price increase for the meme coin. He stated that Dogecoin still has “plenty of room to go higher in this bull market.”
At the time of writing, Dogecoin is trading at $0.159, up slightly over the past 24 hours.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
