Crypto analyst Ali Martinez has predicted a massive potential rally for Dogecoin, estimating a 4,500% increase that could bring the price to $18. This projection is dependent on Dogecoin testing critical boundaries within its trading channel, with intermediate targets such as $2.40.
Martinez suggests that historical patterns may support a higher price spike, with Fibonacci levels indicating a possible range between $3.95 and $23.26. He highlights Elon Musk's influence, suggesting the meme coin could reach $23 in the current market cycle.
Dogecoin's price has surged since Donald Trump's election win, partly fueled by Elon Musk's proposed Department of Government Efficiency (D.O.G.E) which has buoyed the meme coin. Since Trump's victory, Dogecoin's price increased by 139%.
Another crypto analyst, Master Kenobi, forecasts that Dogecoin could fluctuate between $0.33 and $0.40 before aiming to reach its all-time high of $0.73. An initial rejection may occur, followed by a consolidation phase of one to two weeks as seen in past cycles.
Trader Tardigrade speculates that Dogecoin could rise to $30 if it mirrors the price patterns from the 2021 bull run. Presently, Dogecoin's trading price stands at around $0.41, showing a 48% increase in the last 24 hours.
