DOGE/USDT

Dogecoin, the meme coin often adored by Tesla CEO Elon Musk, has surged more than 10% in the past week. As of Friday, July 18, the token coin traded at around $0.234, nearly 70% below its all-time high of $0.7376 set in May 2021. The rally comes as Bitcoin hit a new record of $123,091.61 this week, boosting sentiment across cryptocurrencies, including Dogecoin. According to crypto analyst Ali Martinez who goes by @ali_charts on X (formerly Twitter), the Dogecoin seems to form a "double bottom" pattern soon. “If the pattern plays out, Dogecoin could rise to $0.42 by September,” Martinez wrote.