The cryptocurrency market has been challenging for many assets. According to some, the popular meme coin Dogecoin will be the coin that starts the market-wide recovery. That’s because for several months it has been forming a specific chart pattern that will lead it to a breakout. Crypto analyst Ali Martinez points somewhere in the north for DOGE. Another analyst talks about a strong move for an altcoin on the radar of the Turks.
DOGE price prediction: These levels are the target for the altcoin!
As you have been following on Kriptokoin.com, the market is showing signs of recovery but is struggling to move forward. According to popular analyst Ali Martinez’s analysis, Dogecoin’s price has been exhibiting a falling wedge pattern on its daily chart since March. The analyst says that a sustained close above $0.10 will trigger a rally towards $0.15.
Musk influence on DOGE price
Meanwhile, Tesla CEO Elon Musk, an active supporter of the leading meme coin whose social media posts on DOGE often trigger price spikes, made another such post. However, this time it failed to have a significant impact on the altcoin’s price. In particular, he shared an image generated by artificial intelligence (AI) with the word ‘D.O.G.E.’ written on it. He suggested that this was an acronym for the ‘Department of Government Efficiency’ that former United States president and current presidential candidate Donald Trump promised himself if elected
Elon Musk’s latest X post did not affect DOGE too seriously. However, it may have prevented it from falling further, down to the $0.071 level amid a bearish trend. Analyst Anbessa commented on Musk’s lackluster impact on Dogecoin price. The analyst suggested that there is still enough potential to greatly boost the altcoin price. However, this will probably take some time.
XRP price forecast: Ready for a “Big Squeeze” against BTC!
Ripple’s native token XRP is on the verge of a major squeeze against Bitcoin, according to an analyst nicknamed Cryto Michael. At the time of writing, the XRP/BTC pair is trading at 0.00000968 BTC. It is down 34.5% so far since the beginning of the year. However, the altcoin has gained 27% since the beginning of June. Squeeze typically occurs when an asset rises sharply due to a large number of short bets. It is possible that such a scenario could play out once again in XRP and BTC.
It is worth noting that the altcoin price experienced a ‘squeeze’ in August after Judge Analisa Torres delivered the court’s much-anticipated final ruling in the SEC v. Ripple case. However, XRP failed to maintain its bullish momentum beyond a short-term squeeze. A similar scenario took place last year after Ripple’s court victory. As you may recall, the court deemed secondary XRP sales as non-securities.
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