This Popular Analyst Remains a Dogecoin (DOGE) Holder and Expects a New ATH Soon: Details

TL;DR

• Dogecoin
  (DOGE)
  is
  up
  5%
  daily
  with
  one
  analyst
  predicting
  a
  significant
  rally
  based
  on
  historical
  patterns.
• Some
  important
  metrics,
  such
  as
  the
  Relative
  Strength
  Index
  (RSI),
  also
  indicate
  a
  potential
  upcoming
  uptrend.

Not
Selling
a
Single
Coin

The
largest
meme
coin
in
terms
of
market
capitalization

–

Dogecoin
(DOGE)

–

performed
quite
well
in
the
last
week,
witnessing
a
7%
price
increase.
In
the
past
few
days
though,
it
briefly
lost

the

momentum,
with
its
price
slipping
to
around
$0.12
before
spiking
to
$0.13
again
(CoinGecko’s
data).

According
to
the
popular
X
user
Ali
Martinez,
though,
those
price
swings
are
part
of
a
bullish
path
that
could
take
DOGE
to
a
new
all-time
high
in
the
following
months.

He

noted

that
the
meme
coin
consolidated
in
a
descending
triangle
in
2016
and
2021,
followed
by
a
triple-digit
price
rally
later.
The
situation
looks
quite
the
same
now,
with
Ali
Martinez
expecting
a
similar
surge
in
the
near
term:

“Dogecoin
is
playing
the
same
pattern
we’ve
seen
before.
It
consolidates
in
a
descending
triangle,
sees
a
140%
to
230%
rally,
and
retraces
by
56%
to
60%
before
entering
a
bull
run.”

The
trader
also
admitted
that
he
has
only
been
buying
more
DOGE
tokens
as
of
late,
not
parting
with
a
single
one.

Other
analysts
envisioning
a
bright
future
for
the
meme
coin
include
the
X
user
Mags
and
KALEO.

The
former
chipped
in
last
month,

claiming

that
the
accumulation
phase
was
over
and

it
soon
might

be
followed
by
a
“parabola”
stage
that
could
push
the
price
above
$1.

For
their
part,
KALEO
argued
that
DOGE
has
the
“secret”
power
to
move
sideways
for
extended
periods,
followed
by
“rapid,
vertical
growth.”
The
analyst
went
further,
predicting
that
it
may

even

outpace
Bitcoin
(BTC).

This
Metric
Signals
an
Uptrend

The
DOGE
Relative
Strength
Index
(RSI)
also
suggests
an
incoming
rally.
It
measures
the
change
and
speed
of
price
movements,
varying
from
0
to
100.
A
ratio
above
70
indicates
a
correction
might
be
imminent,
while
lower
points
hint
about
an
uptick.
Currently,
the
RSI

stands

at
50.

It
is
worth
noting
that
the
metric
hovered
in
approximately
the
same
zone
at
the
end
of
March
and
the
beginning
of
April
when
DOGE’s
valuation
jumped
above
$0.22.