A widely followed crypto analyst thinks the top meme asset Dogecoin (DOGE) could kick off a parabolic bull run this month.
In a new strategy session, crypto trader Ali Martinez shares a chart with his 76,400 followers on the social media platform X that suggests DOGE is primed to spark a rally based on historical trends.
According to Martinez, November tends to be the month when the meme coin skyrockets and traders should look for a sustained close above $0.20 as confirmation.
Dogecoin is trading around $0.159 at time of writing. The 9th-ranked crypto asset by market cap is down more than 7% in the past 24 hours but remains up by around 12% in the past seven days.
Martinez is also bullish on certain other large-cap altcoins as well, such as interoperable blockchain Polkadot (DOT).
“No need to chase when plenty of solid projects are still under the radar! Take Polkadot for example – looking primed for a breakout!”
The trader’s chart suggests that DOT could skyrocket past the $6.00 price tag by the end of the year. DOT is trading at $3.92 at time of writing. The 21st-ranked crypto asset by market cap is down nearly 7% in the past 24 hours.
Martinez also says the Solana (SOL)-based memecoin dogwifhat (WIF) is currently preparing for a bullish breakout to $3.
WIF is trading at $2.38 at time of writing, down nearly 8% on the day.
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Generated Image: Midjourney