Crypto analyst DonAlt has provided a bullish narrative for the foremost meme coin, Dogecoin (DOGE). This follows his recent statement suggesting that DOGE could still move over 500% from its current price levels.
Dogecoin Could Rise To $1
DonAlt mentioned in a video on his YouTube channel that DOGE “it isn’t too unlikely for Dogecoin to go to $1.” This raises the possibility of the meme coin breaking its all-time high (ATH) of $0.7376 on its road to $1, which no doubt presents mouth-watering gains for investors.
The crypto analyst made this statement while revealing that Dogecoin was one of the altcoins he had his eyes on. He added that he found the meme coin “interesting” because it dipped back into support on the PTC chart. Meanwhile, DonAlt suggested that $0.1 is a good entry point for those looking to invest in DOGE and stated that he will probably buy if it drops to that level.
The crypto analyst remarked that he would also look to Bitcoin’s price movement to determine whether or not to buy Dogecoin now. If Bitcoin confirms a bullish sentiment, he will buy the meme coin at whatever price level he finds it at since it is still a long way from hitting $1.
Interestingly, the crypto analyst suggested that DOGE was a better investment than Bitcoin. He stated that DOGE could trade as high as $2 if Bitcoin never drops back to the $60,000 range. That is why he finds investing in the meme coin more attractive than buying the flagship crypto at $60,000 and seeing it rise to $90,000.
Shiba Inu Could Also See Significant Gains
Crypto analyst and trader Xanrox also recently predicted that DOGE’s top contender, Shiba Inu (SHIB), could witness a price surge of over 300%. This also means that SHIB, like DOGE, could hit a new ATH in this market cycle. Meanwhile, analysts like Javon Marks have also raised the possibility of SHIB deleting another zero and rising to as high as $0.0001553.
These massive price predictions for DOGE and SHIB again underscore the battle between these crypto tokens to assert themselves as the most valuable meme coin. So far, they have made significant moves in the market since the beginning of the year. However, there is a growing feeling that SHIB could overtake DOGE at some point.
SHIB has already seen more gains since the beginning of the year, boasting a year-to-date (YTD) gain of over 160% compared to DOGE’s 80%.
Featured image from Mary Taylor/Pexels, chart from TradingView
