Crypto analyst Ali Martinez has shared an optimistic scenario for Dogecoin's price, noting a repeating pattern in its market behavior. Historical data shows Dogecoin tends to consolidate in a descending triangle, followed by rallies of 140% to 230%, and subsequent retracements of 56% to 60%, leading to bull runs.
In 2016 and 2020, DOGE followed this pattern, with significant rallies and pullbacks setting the stage for major price surges in 2017 and 2021 respectively. Martinez suggests we could see a 1,700% rally similar to past increases.
Dogecoin's chart shows potential for a clear break above $2, with possible escalations to $4. Martinez's previous analysis indicated DOGE might even exceed $11 in the ongoing bull run, reinforcing the coin's significant status among altcoins.
Martinez also offered a short-term forecast, expecting Dogecoin to hit resistance levels at $0.14479, $0.1613, and $0.1844, with a potential 44% upside target based on recent patterns.
