Altcoin
Dogecoin and Altcoins Set to Rally if Bitcoin Reaches Record Highs, Crypto Analyst Says
May 24, 2024 08:58 | 2 minute read
A leading cryptocurrency analyst predicts a significant rally for Dogemoneta (CRYPTO: DOGE) and other altcoins, including Bitcoin (CRYPTO: Bitcoin) AND NEAR protocol (CRYPTO: NEAR).
What happened: A widely followed analyst known as The Crypto Dog has shared his predictions on social media platform X, Daily Hodl reported on Fridays. He told his 782,000 followers that Dogecoin could rise to $0.30, a 78% increase from its current price if Bitcoin hits a new all-time high.
The Crypto Dog expressed optimism, stating, “I actually feel pretty good about DOGE.” He suggested it too Bitcoin (BTC) may be entering another bullish phase, indicating the potential to hold BTC long-term as it reaches new highs.
Additionally, The Crypto Dog highlighted the NEAR protocol, predicting that it could surpass its 22-month high of $9.10, about 15% above its current price. He noted: “ALMOST on the verge of breaking new yearly highs.”
The analyst also mentioned Saga (CRYPTO:SAGA), suggesting that its downtrend may end soon, making it a token to watch.
See also: Bitcoin, Ethereum, Dogecoin on Tightrope as ETF Decision Looms: Market ‘Weak Weak Weak,’ Trader Says
Because matter: A cryptocurrency analyst recently predicted an altcoin boom amid economic challenges, indicating that the altcoin bull market had already begun. This prediction is in line with recent predictions from The Crypto Dog, suggesting a broader trend in the market.
Also, on May 19, a top trader has shifted focus from Bitcoin to altcoinsIncluded Shiba Inu (CRYPTO: SHIB), highlighting the growing interest in altcoins over Bitcoin. This change highlights the growing confidence in altcoins as viable investment options.
Furthermore, one expert predicted a 60% rally for Ethereum (CRYPTO: ETH) after the approval of an ETF, indicating that the market is ready for significant movements. This optimism for Ethereum’s growth further supports bullish sentiment for other altcoins such as Dogecoin and NEAR Protocol (NEAR).
Image via Shutterstock
This story was generated using Benzinga Neuro and modified by Pooja Rajkumari
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