The post Ali Martinez Predicts Dogecoin (DOGE) To Hit $20 This Cycle If History Repeats Itself appeared on BitcoinEthereumNews.com.

Dogecoin might have slowed down over the last few weeks, but there may be a looming parabolic rally for the top memecoin. The independent technical analyst, Ali Martinez has predicted that the Dogecoin could not only cross $1, but it could also reach $20 if it reaches the upper boundary of a historical ascending channel.  A key factor that could fuel the parabolic rally of $DOGE is the approval of a spot Dogecoin ETF. While it would cement DOGE’s place among the top crypto coins in the market, financial experts believe that the newer Remittix (RTX) could eclipse the meme coin’s potential gains. Historical Trend Could Push Dogecoin As High As $20 After an inspiring run in November, the Dogecoin crypto could close December 2024 at a loss. From a monthly high of $0.4800, the memecoin has plunged to the $0.3100 range—a decline of more than 30%, CoinMarketCap’s data shows. Despite the bearish outlook of the foremost memecoin, one of the best independent crypto technical analysts, Ali Martinez, has an incredibly positive view of Dogecoin (DOGE).  In an X post, Martinez explained that back in 2017, when the Dogecoin price pumped by 212%, it suffered a 40% retracement before going on a parabolic run that yielded more than 5,000%. In 2021, $DOGE first gained 476%, retraced by 56%, before skyrocketing by 12,000%. In an accompanying chart, Martinez said that the Dogecoin token could rally above $1 if it surpasses the middle boundary of an ascending channel. The main target of $1.9 at the midline means $DOGE could increase by more than 520%.  However, the meme coin could hit as high as $20 if it tops out the channel—an increase of approximately 65x from the current price range. If DOGE completes this historical pattern, it could be one of the best…

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Filed under: News - @ December 31, 2024 1:27 pm