Legendary analyst says Elon Musk’s favorite coin could jump 80% originally appeared on TheStreet.
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.
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Martinez also highlighted how whales have bought more than 1 billion DOGE tokens within 48 hours.
Launched in December 2013, Dogecoin is a parody of the first decentralized cryptocurrency, Bitcoin, which was itself launched in 2009.
Due to its status as the world's largest cryptocurrency, Bitcoin is the preferred choice for companies embracing a crypto treasury strategy.
However, Dogecoin — BTC's parody — isn't far behind. Several companies, such as Bit Origin (Nasdaq: BTOG), have also begun buying DOGE to add to their corporate balance sheet.
Dogecoin was exchanging hands at $0.234 at press time, nearly 70% lower than its record high of $0.7376 that it reached on May 8, 2021.
To even reach the target of $0.42, DOGE needs to jump nearly 80% within a span of two months.
Story ContinuesLegendary analyst says Elon Musk’s favorite coin could jump 80% first appeared on TheStreet on Jul 18, 2025
This story was originally reported by TheStreet on Jul 18, 2025, where it first appeared.
Elon Musk's preferred cryptocurrency, as stated by the legendary analyst in this report on its potential for a 80% surge—a testament to both an astute investment opportunity and Tesla CEO’S own far-reaching influence over market dynamics.
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Elon Musk's preferred coin forecasted to soar 80% by the renowned analyst: A game changer in stores for cryptocurrency enthusiasts?
