In particular, Ali Martinez noted that DOGE is trading within a bullish long-term ascending parallel channel, positioning the token's next potential target at $15 in the coming months.
Typically, this pattern indicates a sustained upward trend with higher highs and higher lows. For DOGE, the price has consistently adhered to the support and resistance levels of the channel since 2017.
The upper boundary of the channel suggests that DOGE could reach $15 if the formation is realized. This would elevate DOGE's market capitalization to $2.23 trillion, assuming the supply remains unchanged, potentially making it the leading cryptocurrency—provided Bitcoin experiences minimal growth.
Trader Tardigrade's analysis emphasized the possibility of further DOGE growth, noting that the asset still has room to rise in the current bullish market as it aims to overcome key resistance at $1.
The likelihood of the meme coin reaching these ambitious levels is also supported by growing confidence among "whale" investors. In the past 24 hours, the Dogecoin network recorded 588 transactions exceeding $1 million, executed by whales.