Ali Martinez Predicts Dogecoin Will Surge 8,000% to Trade at $10

Seasoned market analyst Ali Martinez has asserted that Dogecoin will surge substantially, predicting the leading meme coin would trade at a two-digit price.

Seasoned market analyst Ali Martinez has predicted that Dogecoin will continue to surge substantially, asserting that the leading meme coin will trade at a two-digit price.

According to Martinez, Dogecoin is poised for a massive price uptick, which he claims will lead to it trading at $10.

In a tweet on Tuesday, the crypto expert shared a chart that seems to support his assertions. The chart shows Dogecoin’s price rising from the base of its rising wedge on the 1-week timeframe.

If the price does indeed surge to $10 from its current market price, it would indicate a growth of 8,032%.

However, several commenters expressed pessimism about the price speculation, presenting various arguments to support their skepticism.

For instance, one user highlighted the potential market cap of Dogecoin if it were to trade at $10. Calculations show that the meme coin would have a cap of $1.48 trillion, which would exceed that of Bitcoin.

At the time of writing, Bitcoin has a market cap of $1.33 trillion. While some users acknowledged the possibility of the price and market cap, they emphasized that it would likely require multiple bull cycles and substantial fund injections to achieve.

It's worth noting that Martinez has previously made bold price predictions for Dogecoin. In February, he predicted that the memecoin market leader would surge by 28,770% to $24.

Meanwhile, data from Santiment shows that the number of wallets holding DOGE have decreased significantly amid the meme coin’s price failure to meet expectations.

Non-empty DOGE wallet addresses dropped to 6.62 million, marking the lowest since April 25.

The chart shows that the number of Dogecoin holders was on the rise from April to October 2024, reaching 6.74 million earlier this month. An earlier report highlighted this surge, noting that 19,630 new addresses were created on the Dogecoin ecosystem in one day.

However, Santiment's data on Tuesday showed a sharp decline by 106,600 addresses after the peak earlier in the month. The crypto data intelligence platform attributed the decrease to traders’ frustration over DOGE’s recent performance, leading them to shift toward other assets with quicker price pumps.

Despite the recent setback, DOGE has still managed to increase over 8% in the past 24 hours amid a broader market uptrend. The meme coin trades at $0.1252 at the time of writing.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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