The cryptocurrency market has lost altitude and is consolidating. Bitcoin, the leading crypto, is struggling to maintain $65,000 after losing $70,000. The meme coin wind seems to have died down for now. However, analysts are predicting explosive movements in some altcoin prices further ahead. One popular analyst predicts that the original meme coin Dogecoin (DOGE) will hit a major price target. In addition, the analyst is hopeful for the leading altcoin and the leading crypto.

“DOGE is at the very beginning of a big parabolic bull run!”

Cryptocoin.comAs you have been following on ‘Bitcoin and Altcoins’, the market is dominated by the red color this week. After strong rallies, Bitcoin and altcoins have started to correct. Despite this, some analysts say the bull market continues. Popular cryptocurrency analyst Ali Martinez says that DOGE has the potential to rise by 5,900% from its current value. In this context, the analyst makes the following statement:

I feel that my DEGEN friends are distracted by the new shiny meme coins, but Dogecoin remains the most important altcoin in this sector. From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a massive parabolic bull run!

Source: Ali Martinez

Meanwhile, Dogecoin was trading at $0.1814 at the time of writing, down 1% in the last 24 hours. The meme coin lost 3.85% on its weekly chart.

Analyst: Indicators point bullish for leading altcoin!

Ali Martinez then looks at the leading altcoin Ethereum (ETH). The analyst says that Ethereum is in a bull trend based on the high level of network transactions by whales. “Despite the Ethereum price correction seen over the past few weeks, ETH whale transactions are on the rise. This is a bullish indicator for future ETH price movements!”

Source: Ali Martinez

Meanwhile, Ethereum was trading at $3,315 at the time of writing, down 0.8% in the last 24 hours. The leading altcoin is down 8.5% on the weekly chart.

Analyst predicts strong rise for leading cryptocurrency

Finally, Ali Martinez discusses the leading cryptocurrency Bitcoin (BTC). The analyst says that BTC follows a similar price pattern to the Nasdaq’s recent performance. In this context, the analyst says, “Doesn’t Bitcoin (right) look like Nasdaq (left)?” According to his chart, the analyst predicts that Bitcoin will trade around $94,000 before June.

Source: Ali Martinez

Bitcoin, meanwhile, was trading at $65,970 at the time of writing, up 1% in the last 24 hours. However, the leading cryptocurrency gained 7.5% on the weekly chart.