Veteran Analyst Gives $1 Target for Dogecoin – Explains What’s Needed for Bitcoin’s Rally to Continue

Cryptocurrency analyst Ali Martinez shared his interesting opinions about Dogecoin, the world's largest memecoin, in his statement.

The analyst claimed that the DOGE price is currently in what he describes as a “classic pattern” and said that the altcoin is currently in the consolidation phase after a descending triangle formation.

The analyst suggested that DOGE price could jump to $1 in the coming weeks when evaluated in line with past trends.

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In addition, the analyst made some evaluations on the Bitcoin price. According to Martinez, Bitcoin's MVRV rate has signaled an average increase of 67% for BTC every time it fell below its 90-day average since November 2022.

On the other hand, Martinez said that the Bitcoin price closely followed the Global Liquidity Index until 2024, but this trend was broken this year. According to the analyst, for the Bitcoin bull to continue, an increase in liquidity is needed before the US elections.

*This is not investment advice.

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