Ali Martinez, a leading cryptocurrency analyst and trader, said on Wednesday that they recorded profits after Dogecoin (CRYPTO: DOGE) hit their target at the top of a price channel.

Plan Comes To Fruition

Martinez had flagged $0.1172 as their “technical target” on April 22. DOGE hovered around $0.09 at the time, implying a 30% upside target.

The dog-themed cryptocurrency eventually hit the target on Wednesday, after which Martinez booked a profit.

Analyzing Dogecoin’s Latest Spike

Dogecoin has lately been on the rise, up 4.75% over the week and 22% over the month. Institutional investments most likely played a significant role.

Interestingly, on-chain activity declined during this…

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