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November could be a big month for Dogecoin (DOGE), according to crypto analyst Ali Martinez, who recently shared his thoughts on the future price of the major meme cryptocurrency. Martinez says that a sustained close above $0.20 is needed to get this potential surge going.
As the attached price chart shows, Dogecoin is currently completing 2,180 days of accumulation in what can be called a triangle, which began three years ago in 2021 after a 15.524% pump. Once completed, it may lay the foundation for the price of DOGE to skyrocket to new highs.
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As the analyst revealed, there is a regularity in the behavior of the DOGE price, which consists in such long accumulations in triangles.
For example, in 2021, the breakout to $0.75 per DOGE also occurred after 1,096 days of accumulation. It was once preceded by a 1,155-day accumulation that took Dogecoin up 8,933% in 2018.
If this pattern plays out this time around, predictions for DOGE’s price may not stop at $1, as it is only 500% from the current price, and all of the previous times have totaled thousands of percent.
So, yes, Dogecoin may be ready for the “to the moon” scenario.
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However, and this is important, it will only be validated if the price of the popular meme cryptocurrency will at least maintain the $0.20 mark. Until this time, despite adding about 50% in the month of October alone, Dogecoin failed this task, with sellers, or bears, stopping its price growth today at $0.1798.
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