Analyst Says $15 Dogecoin Target Is Dead After Long-Term Channel Break

Analyst Ali Martinez says the $15 Dogecoin target he has been tracking since the token’s early days is dead, now that DOGE has broken below the long-term rising channel the whole thesis was built on.

The call undoes months of bullish setups other analysts pointed to through August, from whale accumulation to a technical buy signal that had suggested a rally back toward that same structure.

The Channel That Defined the $15 Case Just Broke The channel in question is a rising parallel one that Martinez says has defined Dogecoin’s price action since inception.

Every time the price touched its lower boundary, it marked what he calls a generational buying opportunity, pointing to gains of 9,221% in 2017 and 30,694% in 2020.