The cryptocurrency market has lost ground and is consolidating. Leading crypto Bitcoin is struggling to maintain $65,000 after losing $70,000. Meme coin seems to have calmed down for now. However, analysts are predicting explosive movements in some altcoin prices going forward. A popular analyst predicts that the original meme coin Dogecoin (DOGE) will hit a big price target. In addition, the analyst speaks hopeful for the leading altcoin and the leading crypto.
“DOGE is at the very beginning of a major parabolic bull run!”
cryptokoin.comAs you follow from , red color dominates the market this week. After strong rallies, Bitcoin and altcoins began to correct. Despite this, some analysts say that the bull market continues. Popular cryptocurrency analyst Ali Martinez says DOGE has the potential to rise 5,900% from its current value. In this context, the analyst makes the following statement:
I feel like my DEGEN friends are getting distracted by the shiny new meme coins, but Dogecoin remains the most important altcoin in this sector. From a technical perspective, DOGE appears to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a major parabolic bull run!
Meanwhile, Dogecoin was trading at $0.1814 at the time of writing, down 1% in the last 24 hours. Meme coin lost 3.85% value on its weekly chart.
Analyst: Indicators point upward for the leading altcoin!
Ali Martinez next looks at the leading altcoin Ethereum (ETH). The analyst says Ethereum is in a bullish trend based on the high level of network transactions made by whales. In this regard, the analyst said, “Despite the Ethereum price correction seen over the past few weeks, ETH whale transactions are increasing. This is a bullish indicator for future ETH price movements!” says.
Meanwhile, Ethereum was trading at $3,315 at the time of writing, down 0.8% in the last 24 hours. The leading altcoin saw an 8.5% decrease on its weekly chart.
Analyst predicts a strong rise for the leading cryptocurrency
Finally, Ali Martinez discusses the leading cryptocurrency Bitcoin (BTC). The analyst says that BTC has drawn a price pattern similar to the recent performance of Nasdaq. In this context, the analyst asks, “Isn’t Bitcoin (right) similar to Nasdaq (left)?” says. According to his chart, the analyst predicts that Bitcoin will trade around $94,000 before June.
Meanwhile, Bitcoin was trading at $65,970 at the time of writing, up 1% in the last 24 hours. However, the leading cryptocurrency recorded a value of 7.5% on its weekly chart.
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