Following the recent surge in cryptocurrencies, attention has shifted to market analysts. The general sentiment among these analysts appears to be optimistic about the rise. In this context, a well-known cryptocurrency analyst mentioned that it is time for altcoins to rise, and a major memecoin will benefit from this situation.
Market and DOGE Analysis by the Analyst
Rekt Capital, an analyst, informed his thousands of followers on social media platform X that the market value of all cryptocurrencies, except the top 10, is likely to rise above $250 billion as shown in the OTHERS chart. Access COINTURK FINANCE to get the latest financial and business news.
The analyst points to the chart he shared, stating that the first target is the $315 billion level before reaching the old high at $325 billion.
The Altcoin Market Value still holds $250 billion as support, positioning itself for an upward movement through the black path.
On the other hand, examining one of the leading meme coins, Rekt Capital confirmed a strong macro bullish outlook after successfully retesting the $0.12 level for Dogecoin (DOGE).
Looking at the chart shared by the analyst (below), the next notable resistance level is between $0.20 and $0.278.
Dogecoin, after successfully retesting the combined support area of the blue Macro Downtrend and the black Low Range (orange circle area), achieved a +30% recovery. The Macro Downtrend has ended, fully confirming the new Macro Uptrend.
As of the time of writing, DOGE was finding buyers at $0.1557 after a 3.43% drop, while its market cap had fallen to $22.4 billion.
The 24-hour trading volume saw a 5% increase, reaching $1.7 billion, which could also be interpreted as growing investor interest.
Bitcoin Dollar Chart
On the other hand, the analyst also commented on Bitcoin (BTC), highlighting a strong support at the potential $60,000 level for BTC, which is at the peak of cryptocurrencies.
It appears to be just a downward wick. Weekly closures like this will confirm this liquidity pool as a safe support.
As of the time of writing, BTC continues to trade around the $63,372 area, approximately 6% above the support level mentioned by the analyst.