Cryptocurrency enthusiasts have been keeping a close eye on Dogecoin (DOGE) as a top analyst and trader predicts that the meme-based digital asset could hit a new all-time high in this market cycle. The pseudonymous analyst known as DonAlt recently shared his thoughts on social media platform X, suggesting that DOGE could potentially surge by more than 624% from its current value.
DonAlt, who boasts a following of over 591,700 users, expressed his bullish outlook on DOGE by stating, “This is the chart for my thesis. I bought $0.12ish and think it can run to $1 as long as the crypto market doesn’t vanish again. That said I don’t know. You do you, not gonna handhold anyone if it turns around. It’s a meme inherently useless and valueless, only retards trade this thing.”
Backing up his claim with a chart analysis, DonAlt indicated that DOGE has a limited window of opportunity to make a significant move, giving it a two-week timeframe to prove its potential. He also mentioned that a substantial rally for Dogecoin could act as a catalyst for the broader cryptocurrency market by reigniting enthusiasm for digital assets.
According to DonAlt, the appeal of DOGE lies in its widespread recognition as a meme coin that has garnered attention both within and outside the crypto community. He emphasized the importance of high-profile assets like Dogecoin in attracting mainstream interest and bringing new participants into the crypto space. While acknowledging the speculative nature of meme coins, he highlighted DOGE’s current position as a potential driving force for market momentum.
At the time of writing, Dogecoin is trading at $0.138, reflecting an 8.2% increase over the last 24 hours. Despite his short-term bullish stance on DOGE, DonAlt reiterated his skepticism about the long-term viability of meme coins, cautioning that these assets are likely to trend towards zero in the future.
As the crypto market continues to evolve, the potential for DOGE to reach new heights remains a topic of interest for investors and traders alike. Whether Dogecoin will fulfill its upward trajectory and achieve a new all-time high as predicted by DonAlt, only time will tell. Stay tuned for updates on this developing story.