A prominent trader speculates that Dogecoin could hit $1 imminently, indicating further gains could be on the horizon in 2024.
The analyst pointed to Dogecoin’s historical price action, noting a recent breakout that resembles earlier cycles.
DOGE Breakout Hints to $1 By April, Says Analyst
Prominent trader Ali Martinez believes Dogecoin could hit $1 by April, citing a breakout pattern before its parabolic runs in 2017 and 2021.
“This may sound wild, but if history is any guide, Dogecoin could hit $1 by mid-April,” said Martinez on X recently.
The analyst displayed a price chart illustrating Dogecoin’s bear market accumulation phase ranges and that the break above preceded rapid price explosions.
As per the chart, Dogecoin has broken this range again, laying the way for a bullish trajectory in the coming months.
Indeed, it remains to be seen if Dogecoin will reach the $1 mark by April, but if it does, it could spell significantly more upside potential in 2024.
Still, most analysts are yet to comment on whether Dogecoin could exceed $1 this cycle, given the absurd market cap it would entail.
Nevertheless, Cryptollica alludes to new highs for Dogecoin in the upcoming market cycle, highlighting previous cycles’ chart pattern formations and the fact that Dogecoin has broken out again.
Although Cryptocillica does not explicitly state a target, the chart indicates a move toward $1 is likely.
Meanwhile, analysts also appear bullish on Dogecoin’s near-term trajectory. Recently, OG Yomi referenced a long-term trend line and speculated that Dogecoin will retest it soon.
“A macro trendline on Dogecoin that I think we are destined to meet in the not-so-distant future.”
OG Yomi displays a price chart, targeting $0.5 as the level at which DOGE could meet the trendline.
The chart also shows that DOGE recently broke a falling triangle, a significantly bullish occurrence that typically entails a move to the upside.
Yet, Dogecoin is not the only crypto poised for bullish momentum in the coming months.
Leading analysts are also backing the new AI meme coin Scotty the AI, with some suggesting it holds 10x potential.
Could Scotty the AI be the Next Meme Coin to Explode After Raising Over $8M?
In mid-February, Scotty the AI’s presale had just hit the $400K total raise mark. While an impressive feat, what followed shocked everybody.
In just over three weeks, the presale raised a staggering $8 million, reflecting the crypto market’s burning desire for cryptocurrencies that tap into the AI and meme coin narratives.
Based on a loveable Scottish Terrier with jet-black fur and puppy dog eyes, Scotty the AI looks like an adorable meme coin. But scratching beneath the surface, Scotty is a fierce blockchain guardian, harnessing AI technology to safeguard from bad actors and coding bugs.
As a cutting-edge security protocol, Scotty’s memetic allure has bolstered its resonance and viral potential within the crypto industry, making it a widespread hit among tech-nuts and degens alike.
Striking a perfect balance between product and marketing, Scotty the AI has received immense backing from industry analysts, with Jacob Bury dubbing it the “best crypto to buy now” and speculating it could 10x.
Potential investors face their final chance to buy Scotty the AI at a fixed presale price. However, this opportunity will soon end, so they should not wait around.
Credit: Source link