- A popular crypto analyst and trader said Dogecoin (DOGE) must close at around $0.20 this month to reinforce its surge back to its all-time high of $0.74.
- DOGE’s high correlation with Bitcoin (BTC) means it could continue to benefit from the positive price actions of the world’s largest crypto asset.
- Coeptis Therapeutics and Z Squared recently merged to establish the largest DOGE mining firm in the US.
Dogecoin (DOGE) could be on its way to achieving another record-setting event in its ecosystem. According to an analyst, it only needs to close around $0.20 this month to increase its chance of breaking its all-time high at $0.74.
A Bullish Charge for Dogecoin (DOGE)
Ali Martinez on X recently highlighted that Dogecoin has been in a strong bullish zone in the long-term chart. This was very evident in its price trajectory going all the way back to 2017.
Based on historical data, the popular crypto analyst and trader on X believes a closure in that range could spark renewed investor interest, potentially propelling it back to its record-high four years ago or even surpassing those figures.
Bitcoin (BTC) Influence on DOGE
Bitcoin (BTC) could potentially reinforce DOGE’s surge if it sustains its move within an ascending channel above the $ 90,000 mark. This is supported by the strong correlation between the two crypto assets.
Per Macroaxis data, DOGE and BTC have shown a strong correlation of 0.91 in the three-month chart. The trend indicates almost no diversification in their values within the period. Hence, any positive price action from Bitcoin also benefits Dogecoin, unless macro events cause them to split in the charts at some point.
Coeptis Therapeutics and Z Squared Merger
Last week, Coeptis Therapeutics Holdings, Inc. and Z Squared Inc. announced their merger agreement to the public. The former is a biopharmaceutical and technology company for cell therapy, while the latter is a Dogecoin mining company.
The definitive merger agreement allows Coeptis to absorb Z Squared, with the crypto miner becoming a wholly owned subsidiary of the pharmaceutical firm. Moreover, their goal centers on advancing Z Squared’s Dogecoin and other crypto-mining expertise.
David Halabu, the CEO of Z Squared, said the merger will boost their strategy, which focuses on expanding the reach and adoption of DOGE in retail and institutional investors. It also gives them the bragging rights of becoming the largest publicly traded company centered on DOGE mining in the US.
Meanwhile, Dave Mehalick, President and CEO of Coeptis, noted that the move opens up an opportunity for their shareholders to become involved in the Dogecoin market space.
