A closely watched analyst says the dog theme Dogecoin (DOGE) is paving the way for a huge run to the upside.
In a new strategy session, crypto trader Ali Martinez tells From his 33,200 followers on social media platform
“There has been a notable increase in the number of DOGE transactions over $100,000 over the past month, continually reaching new highs. This uptick signals increased interest in DOGE from institutional players and whales, potentially driving a significant price increase.”
Fellow crypto strategist Kaleo also expresses bullish sentiment towards Dogecoin, proverb that the memecoin will see a huge rally in the next two weeks, taking it to $0.15.
He goes on to say that he believes the “real” DOGE rally will take place sometime in 2024.
“Sometime in the next two weeks, Dogecoin will finally start to move. When DOGE starts moving higher, it usually moves quite quickly.
I wouldn’t be surprised to see a daily move from here to somewhere in the 9-10 cent range, chop a bit there, and then another day to ~$0.15. It’ll be a quick move…maybe a bit higher from there, but as much as I’d like to see it go to $1+, I honestly don’t see it getting too much above twenty cents during this rally.
I’m just looking for a touch of HTF (high time frame) resistance on the BTC pair around 550 [satoshis] (where I get the 20 cent figure depending on what the price of Bitcoin is). I think the real DOGE rally won’t start until later in 2024, but that doesn’t mean we can’t have fun before then.”
Dogecoin is trading at $0.075 at the time of writing, up 1.5% on the day.
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Generated image: Midjourney