Crypto analyst and digital assets trader Ali Martinez is leaning bullish on the largest memecoin by market cap.
Martinez tells his 77,400 followers on the social media platform X that Dogecoin (DOGE) could go up by more than twenty-fold from the current price.
Based on the extrapolation of Fibonacci retracement levels, a technical analysis tool based on the Fibonacci sequence of numbers to forecast price targets as well as identify key support and resistance areas, Dogecoin could skyrocket between 2,016% and 12,069% from the current price, according to Martinez.
“With Elon Musk now influencing the 47th President, Donald Trump, Dogecoin could be primed for a wild ride!
In past bull cycles, once DOGE broke the 0.50 Fibonacci retracement [level], it often rallied to the 1.618 or even 2.272 Fibonacci levels. If history repeats, we could see DOGE hit somewhere between $4 and $23!”
Dogecoin is trading at $0.189 at time of writing.
Martinez is also leaning bullish on Bitcoin (BTC). The crypto analyst says that over the short term, Bitcoin could go up by around 13% from the current level after a correction.
“I think Bitcoin hits $78,000, retraces to $71,500 and then rebounds to $85,000!”
Bitcoin is trading at $75,044 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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