Analyst Predicts Dogecoin Could Reach New All-Time High

Analyst Predicts Dogecoin Could Reach New All-Time High

Top crypto expert Ali Martinez believes Dogecoin (DOGE), the leading memecoin, might be preparing for a significant surge.

Martinez told his 80k followers on X social media platform that DOGE has greater upside potential based on the public's interest levels compared to its current market value.

To assess the interest in the top memecoin, he examined Google search trends.

"People claim Dogecoin won't rise due to 'market cap,' 'sell the news,' and 'better memes,'" says Martinez. "But when we analyze DOGE's popularity over time, it's nowhere near its peak. In short, DOGE has much room for growth."

He also suggests that DOGE could be forming a bull flag pattern on the hourly chart, potentially leading to a breakout beyond its previous all-time high of $0.74. A bull flag is considered a continuation pattern in technical analysis, indicating an asset's consolidation and preparation for a rally.

"Dogecoin seems to be forming a bull flag! I'm watching for an hourly close above $0.40, which could trigger a breakout to $0.85!" says Martinez.

At the time of writing, DOGE is trading at $0.3742, a 3.6% increase in the previous 24 hours but still approximately 49% below its all-time high of $0.731.

Finally, Martinez believes Bitcoin (BTC) might defy a bearish signal from the TD Sequential indicator and reach $100,000.

Traders utilize the TD Sequential indicator to anticipate possible trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles.

"Ultimately, I believe a sustained daily close above $91,900 will nullify this negative Bitcoin outlook and trigger a breakout to $100,680!" concludes Martinez.