Trader Predicts Dogecoin (DOGE) May Outshine Bitcoin in New Bull Run

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As a seasoned researcher and cryptocurrency enthusiast with years of experience under my belt, I find myself intrigued by the bullish sentiment expressed by DonAlt regarding Dogecoin (DOGE). Having closely followed the crypto market’s dynamics for quite some time now, I must admit that his optimistic outlook is not entirely unfounded.

Known crypto trader “DonAlt” believes Dogecoin (DOGE) could mirror Bitcoin’s (BTC) success if Bitcoin keeps rising. He thinks Dogecoin is among a select group of alternative coins that could potentially surpass Bitcoin.

Previously, the trader shared his optimistic outlook towards the meme coin and its price trends. Just yesterday, DonAlt posted on X forum indicating that Dogecoin might experience another phase of growth similar to the one where DOGE’s price climbed from $0.11 in October to $0.40 by mid-November.

As a analyst, I’m projecting that if the upcoming growth phase is at least half as substantial as the initial surge, it’s reasonable to anticipate that Dogecoin will not only revisit its peak price but also surpass the eagerly anticipated and celebrated milestone of $1 per DOGE.

Would be a shame if history repeated itself

— DonAlt (@CryptoDonAlt) November 19, 2024

Furthermore, the trader observed a dedication towards consolidation before a rise in Dogecoin on smaller intervals, like the hourly chart. Previously, the Dogecoin price has displayed such a pattern twice, and now, a new consolidation phase is developing.

But first Bitcoin

It’s clear that Bitcoin is the key driver for the trader, according to their thesis. This leading cryptocurrency consistently sets new record high prices, appearing to do so at least once every seven days without causing concern among bullish investors.

Just a day ago, the value of Bitcoin hit another record high of $93,905 on Binance. Nowadays, it’s becoming less surprising when Bitcoin sets new all-time highs, as this happens so often.

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2024-11-20 15:44