A closely watched crypto strategist believes that the top meme coin Doge may be poised for explosive growth.
Analyst Ali Martinez told his 80,000 followers on social media platform X that based on the level of public interest, Doge has greater upside potential relative to its current price level.
He used Google search trends to gauge the market's level of interest in the top meme coin.
"I've seen people say Doge won't pump because of 'market cap', 'sell the news', 'better memes'. Well, when you look at people's interest in Doge, you'll find it hasn't even reached peak popularity yet. Long story short, Doge still has a lot of room to grow."
Source: Ali Martinez/X
He also said that Doge may be forming a bullish flag pattern on the hourly chart and could soon break above its all-time high of around $0.74. In technical analysis, the bullish flag is seen as a continuation pattern, indicating the asset is consolidating and preparing for the next leg up.
"Doge appears to be forming a bullish flag! I expect the hourly close to surpass $0.40, which could trigger a breakout to $0.85!"
Source: Ali Martinez/X
At the time of writing, Doge was trading at $0.3742, up 3.6% in the past 24 hours but down around 49% from its all-time high of $0.731.
Finally, the analyst said that BTC may cover the bearish TD sequential indicator and reach six figures.
Traders use the TD Sequential indicator to predict potential trend reversals based on the closing prices of the previous 9 or 13 bars or candles.
"Lastly, I believe a daily close above $91,900 will invalidate the bearish outlook on BTC and trigger a breakout to $100,680!"
At the time of writing, BTC was trading at $91,954, up 1.6% in the past 24 hours.
