A top crypto analyst and trader believes Dogecoin (DOGE) could reach new highs this cycle.
Pseudonymous analyst Don Alto told his 591,700 followers on social media platform X that the meme coin could appreciate more than 624% from its current value.
“This is a chart from my paper. I bought around $0.12 and I think it could go up to $1 unless the crypto market disappears again. I said I don't know. So will you, no one is going to hold your hand if you turn around. This is essentially a useless and worthless meme, and only the retarded can trade on it.”
The analyst said DOGE has several weeks before taking action. Otherwise, he's out.
“We'll give you two weeks. You can either accept it or leave it.”
The analyst also said the popular meme's massive rally could reignite excitement about the digital asset and boost the broader cryptocurrency market.
“The reason I like DOGE is very simple: it had PVP (player vs. player) trench meme warfare, it had an incredible pump, and no one outside of the bubble cared.
If you really want to accelerate this cycle while attracting regular customers, you need to promote something high-profile that they've heard of before. Memes have become meta and DOGE is a crypto meme that people know. So the chart seems fine.
To be honest, I wish people would come to me for that technology instead of buying something that later becomes zero. I don't have long-term confidence in DOGE in general, but at this point, DOGE is well-positioned as a flare to bring attention to cryptocurrencies again, if it's viable enough. Or it will disappear, and nothing is guaranteed other than the fact that in the long run all these memes will be reduced to zero. ”
DOGE is trading at $0.138 at the time of writing, up 8.2% in the past 24 hours.
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