A widely followed crypto analyst thinks top meme asset Dogecoin (DOGE) could start a parabolic bull run this month.
In a new strategy session, crypto trader Ali Martinez shares a chart showing his 76,400 followers on the social media platform
According to Martinez, November is typically the month when the meme coin soars and traders should look for a sustained close above $0.20 for confirmation.
Dogecoin is trading around $0.159 at the time of writing. The ninth-ranked crypto asset by market capitalization has fallen more than 7% in the past 24 hours, but continues to rise about 12% in the past seven days.
Martinez too optimistic also on certain other large-cap altcoins, such as the interoperable blockchain Polkadot (DOT).
“No need to hunt when there are still many solid projects under the radar! Take Polkadot for example: you look ready to break out!”
The trader’s chart suggests that DOT could soar past the $6.00 price tag by the end of the year. DOT is trading at $3.92 at the time of writing. The 21st-ranked crypto asset by market capitalization has fallen nearly 7% in the past 24 hours.
Martinez also says that the Solana (SOL)-based memecoin is currently dogwifhat (WIF). prepare for a bullish break to $3.
WIF is trading at $2.38 at the time of writing, down almost 8% on the day.
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Generated image: Midjourney
