Ali Martinez: Dogecoin can grow by 11,541%

Crypto analyst Ali Martinez has announced that the Dogecoin meme-coin DOGE $0.11 Binance-Peg Dogecoin -1.57% Market capitalization $0.2 billion VOL. 24 hours $44.64 million may be on the verge of repeating a pattern that could lead to a «meteoric rise» in the coming months.

The crypto strategist tells his 47,300 followers on Platform X that Dogecoin seems to mirror the structure of the 2020 cryptocurrency market.

The analyst shares a chart showing that DOGE could exponentially rise by about 11,541% from current levels if the pattern repeats itself.

«Dogecoin's price action is showing familiar patterns reminiscent of its behavior in 2020. Back then, DOGE broke out of a descending triangle, entered a period of consolidation, and then soared by 28,770%.

Now, DOGE seems to be repeating this pattern: having broken out of the descending triangle, it is now in a consolidation phase, potentially setting the stage for another significant bullish rise," the analyst says.

Looking at the trader’s chart, he predicts that DOGE will reach a new all-time high of around $ 10 by the end of the year.

The trader is also closely monitoring the price action of Dogecoin’s competitor Pepe (PEPE). According to Martinez, PEPE is on the verge of breaking out of a bullish head-and-shoulders reversal pattern.

«You know where PEPE is headed! First $ 0.166, then $ 0.274. Send it!» Martinez motivates the crypto community.

At the time of writing, PEPE is worth $ 0.129.