A closely followed cryptocurrency trader claimed that the popular meme coin Dogecoin 
$0.440797 (DOGE) could reach double-digit values based on its historical patterns.
Examining Dogecoin Price Movements
Crypto strategist Ali Martinez shared insights with his 97,000 followers on social media platform X, indicating that DOGE is in a consolidation phase before reaching new record levels.
Martinez illustrated that DOGE reflects price movements observed during the 2017 and 2021 market cycles, presenting a chart that indicates it is trading within a significant rising channel.
“Look at where Dogecoin DOGE is in the bull cycle! It’s very early, right?” – Ali Martinez
Support Levels for Cardano
Martinez noted that the layer-1 protocol Cardano 
$1 (ADA) could find support at the 1-dollar level, according to the In/Out of the Money Around Price (IOMAP) metric.
The IOMAP metric classifies crypto addresses as profitable, breakeven, or in loss. At the 1-dollar level, there are 41,720 addresses that hold over one billion ADA.
“Cardano is acting like it did in 2020, which is why I’m buying! Even if it drops to $0.76, I’ll buy more and plan to profit between $4 and $6.” – Ali Martinez
Assessments for Traders
Martinez suggested that Cardano is following its 2020 price movements, experiencing a pullback before reaching new peaks.
Traders can consider the potential of DOGE and ADA based on Martinez’s analyses. However, it’s crucial to assess these insights carefully due to the volatile nature of cryptocurrency markets.
Martinez’s predictions should serve merely as a reference point for cryptocurrency investors, who are encouraged to conduct their own research.
While the price movements of leading cryptocurrencies like Dogecoin and Cardano show parallels with past cycles, it is important for traders to consider their own risk tolerance. Given the dynamic nature of the market, cautious and informed investment decisions are advised.
