Crypto analyst and digital asset trader Ali Martinez is bullish on the largest memecoin by market capitalization.
Martinez tells his 77,400 followers on social media platform X that Dogecoin (DOGE) could rise more than twenty-fold from the current price.
Based on the extrapolation of Fibonacci retracement levels, a technical analysis tool based on the sequence of Fibonacci numbers to predict price targets as well as identify key areas of support and resistance, Dogecoin could move higher skyrocketing 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 in for a wild ride!
During previous bull cycles, once DOGE broke the 0.50 Fibonacci retracement (level), it often bounced up to the 1.618 or even 2.272 Fibonacci levels. If history repeats itself, we could see DOGE reach between $4 and $23! »
Dogecoin is trading at $0.189 at the time of writing.
Martinez is also bullish on Bitcoin (BTC). The crypto analyst claims that in the short term, Bitcoin could rise by around 13% from the current level after a correction.
“I think Bitcoin hits $78,000, goes back to $71,500 then rebounds to $85,000!”
Bitcoin is trading at $75,044 at the time of writing.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of 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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