Elon Musk's X Money To Power 7721% Dogecoin Rally? Top Analyst Says 'May Be,' But Would Wait For A Dip To This Level To Enter

A widely followed cryptocurrency analyst hinted at a potential 200% rally for Dogecoin (CRYPTO: DOGE) on Sunday, advising followers to buy the dip. DOGE Ready For Parabolic Surge? Ali Martinez said that DOGE, which has traded within a broad channel between $0.0537 and $0.4595 for years, is finally “drifting back toward the floor.” “I'm looking to buy the dip at $0.0537. If this floor holds, we could see a 200% rally back to the mid-range at $0.16,” Martinez said. “Get ready to buy Dogecoin.” Get ready to buy Dogecoin $DOGE!For years, Dogecoin has traded within a wide channel between $0.0537 and $0.4595. After hitting the ceiling, it is finally drifting back toward the floor.I'm looking to buy the dip at $0.0537. If this floor holds, we could see a 200% rally back… pic.twitter.com/avOMX4DJJj— Ali Charts (@alicharts) March 22, 2026 X Money A Factor? When asked if $4.20 is a realistic target, Martinez said that X Money, the hotly-awaited payments service of Elon Musk‘s social media company X, could act as a catalyst. Reaching $4.20 would require DOGE to rally 7721% higher than the level where Martinez plans to buy the dip. Note that the memecoin peaked at $0.73 in May 2021 and has since collapsed 87%. May be with the launch of 'X Money' on Elon's platform— Ali Charts (@alicharts) March 22, 2026 What Do Indicators Suggest? The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a "Buy" signal, according to TradingView. The Bull Bear Power indicator, which measures the strength of buyers and sellers, was “Neutral,” and so was the Relative Strength Index. Meanwhile, DOGE’s open interest rose 0.57% in the last 24 hours, while its spot price declined, according to Coinglass. Typically, a jump in OI alongside a price drop indicates new shorts entering the market. Moreover, DOGE’s Long/Short ratio dipped below 1 on Binance, OKX and Bybit, suggesting dominance of bearish traders. Price Action: At the time of writing, DOGE was exchanging hands at $0.09072, down 1.92% in the last 24 hours, according to data from Benzinga Pro. Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Photo Courtesy: Akif CUBUK on Shutterstock.com