Crypto Trader Says Dogecoin Has ‘Too Much Firepower,’ Could Skyrocket by Over 500% – But There’s a Catch

A well-liked crypto dealer believes dog-themed digital asset Dogecoin (DOGE) may skyrocket greater than 6x the present worth.

The pseudonymous analyst generally known as Altcoin Sherpa tells his 209,800 followers on the social media platform X that DOGE may hit the $1 degree with assist from one of many memecoin’s greatest cheerleaders, billionaire Elon Musk.

Musk’s public present of assist for DOGE, which some imagine he’ll combine into X as a cost operate at some point, has coincided with large rallies.

Nonetheless, the dealer warns the timing of his prediction is unsure and will take months.

“DOGE: some random notes on this one:

-I believe that this does one thing silly, like go to $1-plus or one thing. It’s obtained an excessive amount of firepower with Elon and remains to be king meme.

-When this occurs? I do not know. Could be now, might be six months from now.

-It gained’t provide the similar returns as 2021 given market cap.

-That is a *comparatively* secure commerce for my part (IMO). Like I believe the probabilities of this doing a number of x is sort of excessive. Is it going to be higher threat to reward ratio than longing different stuff like SOL? I don’t know. Go as far down the chance curve as you need.”

The dealer can be intently watching whether or not DOGE can flip two key resistance ranges into assist at $0.20 and $0.35, which might assist affirm his bullish stance.

“The chart looks great in my opinion. Chopped for 650 days and then exploded up. $0.20 and $0.35 are the next interesting areas up.”

Supply: Altcoin Sherpa/X

DOGE is buying and selling for $0.15 at time of writing, up 5.6% within the final 24 hours.

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