Cryptocurrency trader Ali Martinez believes that Dogecoin (DOGE) is showing signs of a potential bull run, based on its past price behavior.
Historical Patterns
Martinez notes that in 2017 and 2021, DOGE broke out of descending triangles on the weekly chart, followed by significant price corrections.
- In 2017, DOGE retraced 40% before a 982% bull run.
- In 2021, DOGE retraced 56% before a 12,197% surge.
Current Situation
Martinez points out that DOGE is currently undergoing a 47% price correction, which he believes could lead to another bull run.
Shiba Inu (SHIB)
Martinez also discusses Shiba Inu (SHIB), the second-largest memecoin by market cap. He believes SHIB is forming a bull flag pattern on the daily chart and has entered a long position, targeting a 4x gain.
