Ali Martinez, a renowned digital currency analyst, believes that despite the unfavorable market conditions, Dogecoin still has a chance to reach a new historic peak. He emphasizes the importance of maintaining a support level between $0.16 to $0.19 for Dogecoin. Martinez points out that Dogecoin has been trading in an upward channel since 2014 and usually jumps from its lower boundary towards the upper side. He predicts that if this pattern repeats for Dogecoin, the coin could rise to the $3 level. Positive developments such as multiple requests for Dogecoin spot ETFs in the US also contribute to its upward potential. However, Martinez highlights that investors, especially after events like the recent Bybit exchange hack, should be cautious of extreme fluctuations and market risks.
