Dogecoin $0.406008 (DOGE), the largest meme coin by market capitalization, has reached new heights, significantly benefiting from the rise in Bitcoin (BTC) $101,550. Following Trump’s election victory, the market sentiment has improved, and traders are optimistic. As of the time of this writing, BTC is trading at $86,700, while DOGE is enjoying double-digit gains.
Dogecoin (DOGE) Analysis
The price of BTC is expected to continue its steady rise; however, a reminder from our previous alert is necessary. Just yesterday, BTC was hovering around $88,000, and we noted that price corrections are normal even during the best bullish periods. Currently, after falling to the $85,000 levels, Bitcoin has shifted its direction back upward, targeting six-figure price goals above the $89,000 resistance.
According to an analyst using the pseudonym Trader Tardigrade, DOGE is psychologically entering a phase aiming for all-time highs. They shared a graph indicating that Dogecoin has moved past the bear phase of the market cycle and is now starting a new bullish phase. The anticipated level for DOGE is $2, significantly above its previous all-time high of around $0.75.
Altcoin Predictions
The Titan of Crypto suggests that BTC is programmed to exceed $100,000, indicating a continuation of the steady upward trend. This situation reminds many of the developments from November 2020. If this is accurate, we should observe Bitcoin and altcoins reaching much higher levels in the upcoming year, with many altcoins just beginning their upward journey.
The analyst Moustache shared a market capitalization graph, expressing satisfaction that their previous two-year-old predictions have proven accurate. They note that this cycle is much larger and resembles signals from 2017, suggesting that there is still much more to come for altcoins.