Famous crypto analyst DonAlt has expressed an optimistic view on Dogecoin (DOGE), suggesting that the meme coin could experience significant price increases in the near future. In a new video on his YouTube channel, DonAlt discussed the possibility of DOGE surpassing its all-time high (ATH) and reaching the $1 level.
DonAlt Points to This Level for Buying DOGE
Pointing to the support drop in the latest BTC chart, he indicated a potential entry point for investors. DonAlt mentioned that if DOGE falls back to $0.1, especially if Bitcoin continues its upward trend, he would consider buying the cryptocurrency DOGE.
Comparing Bitcoin with DOGE, DonAlt noted that investing in the meme coin DOGE could yield better returns, especially if Bitcoin fails to return to its previous high levels.
SHIB Emerges as a Strong Competitor
Analysts have turned their attention to Shiba Inu (SHIB) and suggested that the token could witness significant price increases similar to meme coin DOGE. Crypto analyst Xanrox predicted a price increase of over 300% for SHIB, indicating the potential for a new ATH in the current market cycle.
Javon Marks also reiterated similar thoughts, increasing the likelihood of the cryptocurrency SHIB removing another zero and reaching new peaks.
Competition for Dominance Continues
Both DOGE and SHIB have made significant moves in the market since the beginning of the year, with a growing belief that SHIB could overtake DOGE. SHIB has shown a better performance than DOGE with a 160% increase Year-To-Date (YTD) compared to DOGE’s 80% increase.
Analysts believe that SHIB’s momentum could continue and it might surpass DOGE as the leading meme coin. While DOGE and SHIB compete for dominance in the meme coin market, crypto analysts offer bullish scenarios for both tokens.
While DonAlt suggests potential gains for DOGE, analysts also emphasize that SHIB is emerging as a strong competitor. With SHIB’s impressive YTD gains, the competition between these meme coins is heating up, enticing investors to see which token will ultimately reach the top in the long run.
