A top cryptocurrency analyst and trader believes Dogecoin (DOGE) could hit new all-time highs this cycle.
Pseudonymous analyst DonAlt told his 591,700 followers on social media platform
“This is a chart from my paper. I bought $0.12ish and I think it could go up to $1 unless the cryptocurrency market goes away again. I said I didn’t know. No one will hold your hand when you turn around. It’s an essentially useless and worthless meme. “Only crazy people deal in this.”
Analysts say DOGE has weeks to take action. Otherwise he is out.
“I’ll give it about two weeks and I’ll take it or leave it.”
The analyst also said that a massive rally around a well-known meme could reignite excitement about digital assets, boosting the broader cryptocurrency market.
“The reason I like DOGE is very simple. We’ve had PVP (player vs player) trench meme wars and incredible pumps and no one outside the bubble cares.
If you really want to take this cycle to the highest level by capturing the attention of the general public, you need to pump out something noteworthy that they’ve heard of before. The meme was meta and DOGE is a cryptocurrency meme that people are aware of. It and the chart look fine.
To be honest, I hope people come looking for technology instead of buying things that will cost them zero later. And while I generally don’t have long-term faith in DOGE, it’s well positioned right now to be a beacon to get people looking back at cryptocurrencies. If it runs long enough. Or if it fizzles out, nothing is guaranteed other than the fact that in the long run all these memes will go to zero.”
At the time of writing, DOGE is trading at $0.138, up 8.2% in the last 24 hours.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney