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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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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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