A closely followed crypto analyst believes that Dogecoin (DOGE) could hit a huge price target if the memecoin repeats a historic pattern.
Crypto strategist Ali Martinez tells his 56,000 followers on the social media platform X that the dog-themed digital asset could soar by 5,900% from its current value.
“I feel my fellow DEGENs have been distracted with the new shiny memecoins, but Dogecoin remains the most important altcoin in this sector. From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a massive parabolic bull run!”
Dogecoin is trading for $0.20 at time of writing, down 6.5% in the last 24 hours.
Next up, the analyst says that Ethereum (ETH) seems to be in a bullish uptrend based on the high level of network transactions being made by deep-pocketed investors.
“Despite the Ethereum price correction seen over the past few weeks, ETH whale transactions are on the rise – a bullish indicator for future ETH price movements!”
Ethereum is trading for $3,507 at time of writing, down nearly 4% in the last 24 hours.
Lastly, the analyst says Bitcoin (BTC) may be printing a price pattern similar to the recent performance of the Nasdaq.
“Doesn’t Bitcoin (on the right) look like the Nasdaq (on the left)?”
Looking at his chart, the analyst suggests Bitcoin could be trading at around $94,000 before June.
Bitcoin is trading for $67,115 at time of writing, down more than 6% in the last 24 hours.
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