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Legendary analyst says Elon Musk’s favorite coin could jump 80%
Dogecoin's price has risen nearly 40% in a month.

July 18, 2025

Dogecoin, the meme coin once adored by Elon Musk, has jumped more than 10% over the last seven days, riding the crypto market rally as Bitcoin hit a record high of $123,091.61 early this week.

A meme coin is a type of cryptocurrency that parodies a mainstream cryptocurrency. It is called so because it gives a nod to viral memes or trends.

Ali Martinez, a prominent crypto analyst known as @ali_charts on X, shared a price analysis chart and showed the meme coin seeming to form a "double bottom" pattern.

A double bottom is a bullish reversal pattern that forms after a downtrend on a price chart, marked by two similar lows and a breakout above the middle peak. It signals that selling is exhausted and a trend reversal toward a price uptick may be underway.

If the crypto asset follows the pattern as the analyst predicts, it could hit $0.42 in September.

https://www.thestreet.com/crypto/markets/legendary-analyst-says-elon-musks-favorite-coin-could-jump-80

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