Crypto Trader Says Dogecoin Poised To ‘Do Pretty Well’ and Test Higher Levels – But There’s a Catch

A crypto dealer and analyst is expressing an total bullish outlook on Dogecoin (DOGE) because the memecoin consolidates.

Pseudonymous analyst Altcoin Sherpa tells his 11,300 YouTube subscribers that DOGE might finally get away and soar to as excessive as $0.50.

Nonetheless, the analyst warns that DOGE has a comparatively massive market cap that might restrict its upside potential. He additionally says DOGE might be outperformed by different memecoins, together with Pepe (PEPE), Bonk (BONK) and dogwifhat (WIF).

“I do truly suppose that DOGE will finally go check a few of these larger ranges. I believe $0.35 to $0.40 are definitely potential. At the same time as excessive as perhaps $0.50 is feasible as nicely. However DOGE might need the issue the place it’s simply too massive at this level… the place retail individuals would possibly simply really feel DOGE is simply too costly from a market cap perspective and simply would possibly need to be betting on one thing like Pepe or WIF or Bonk or all of those different forms of massive cap memes the place there’s nonetheless ample liquidity, however the upside is simply larger. So DOGE might need that situation.”

The analyst says that total DOGE has a wholesome market construction and that the memecoin might consolidate across the $0.12 degree for some time longer earlier than breaking out.

“, it nonetheless seems to be fairly good… I believe that DOGE is simply going to cut round however finally, it’ll do fairly nicely for my part.”

DOGE is buying and selling for $0.11 at time of writing, down practically 4% within the final 24 hours.

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