Popular crypto analyst under the pseudonym Ali Martinez believes that Dogecoin, the leader among meme coins, could increase by 20 to 100 times following Donald Trump’s victory in the US elections. Martinez’s prediction for DOGE’s future movements is based on Fibonacci levels, which help identify key support and resistance levels for the asset. According to him, DOGE’s price could rise by 2,016% to 12,069%.

With @elonmusk now influencing the 47th President, @realDonaldTrump, #Dogecoin could be primed for a wild ride!

In past bull cycles, once $DOGE broke the 0.50 Fib retracement, it often rallied to the 1.618 or even 2.272 Fib levels. If history repeats, we could see #DOGE hit… pic.twitter.com/VEWXZ0NYOd
— Ali (@ali_charts) November 6, 2024

“Elon Musk has become one of the key players for Donald Trump, the 47th President of the United States, and Dogecoin could experience explosive growth. In past bull cycles, when DOGE surpassed the 0.50 Fibonacci level, it often rose to levels of 1.618 or even 2.272. If history repeats itself, the coin could reach $23,” said Ali Martinez.

Currently, Dogecoin is trading at $0.1995, with a market capitalization of $29 billion. If DOGE increases by 12 times, the coin could rank second in market cap after Bitcoin, and with a 120-fold increase, the meme coin could become the leader of the cryptocurrency market.

Earlier, the analytical platform IntoTheBlock noted that DOGE became the fastest-growing crypto asset, surpassing even Bitcoin.