In the constantly changing and evolving dynamics of the cryptocurrency world, certain crypto assets such as Dogecoin (DOGE) can offer significant opportunities from time to time. At this point, the claims about Dogecoin by a closely followed analyst known as Altcoin Sherpa are quite interesting.
Altcoin Sherpa claims that Dogecoin (DOGE) could likely post massive gains once a proper bull market begins. The analyst admits that this claim is perhaps not the most original investment thesis, but argues that it still has high return potential. “This may not be a very creative or fast trading strategy, but DOGE will reach crazy numbers eventually,” the analyst said. shaped like a explanation made.
According to the analyst, Dogecoin’s current situation is probably not the best compared to other meme coins. However, this does not mean that DOGE’s potential is completely exhausted. On the contrary, Altcoin Sherpa suggests that Dogecoin is facing a major breakout level above the $0.18 level. This indicates that DOGE may be entering a potential uptrend and may be more likely to make big gains during this uptrend.
“It doesn’t outperform other memes given its MC (market cap), but if you buy and sell on the massive rise you’ll probably make 4x your money. Buy now, forget about it and sell when the situation gets worse.”
NEWS CONTINUES BELOW
As you can see, Altcoin Sherpa’s suggestion would be to buy Dogecoin right now and keep it in your portfolio. The analyst thinks that Dogecoin will probably show a significant rise and this rise could offer great opportunities to investors. However, it is important to constantly monitor market conditions and act quickly when the situation worsens.
Apart from meme coin, another cryptocurrency on the analyst’s radar is Solana (SOL). The analyst says SOL’s recent price action has been a bit underwhelming on a short-term time frame but remains bullish from a long-term perspective.
“LEFT: to be honest these are not very good candle closes + I would like to see a strong reaction in the next few days. Failure to do so would likely mean another move back to the $100-120 trading range. “Overall, I’m not sure where this will go in the medium term, but I’m still bullish in the long term.”
Besides these, the analyst says that Dogecoin rival Bonk (BONK) also currently offers opportunities. Considering it is lagging behind other meme coins like Dogwifhat (WIF) and Pepe (PEPE), Altcoin Sherpa thinks BONK has a good chance of catching up to this group soon.
“BONK: This is a good coin to buy right now. It still lags behind WIF and PEPE. When coins consolidate like this and leaders rise, you can easily buy it right now…”
At the time of writing, BONK is trading at $0.000032, up almost 35% from the previous day.
You can follow the current price movement here.
