A renowned crypto strategist who is known for going against popular sentiment is cautioning that Dogecoin (DOGE) is likely to experience a decline, even if Bitcoin (BTC) reaches new all-time highs.
The pseudonymous analyst, Credible, is explaining to his 395,500 followers on the social media platform X that DOGE could fall regardless of BTC’s next move. He outlines two main scenarios for DOGE’s potential decline: if BTC rejects and experiences a decline, or if BTC’s price suddenly surges, drawing attention and liquidity away from other altcoins, including DOGE.
Credible had previously stated that he anticipates BTC to make a significant move towards $100,000. In this scenario, he expects traders to sell off their altcoin holdings to take advantage of the BTC rally.
Another crypto analyst, Ali Martinez, is also closely monitoring DOGE. Martinez highlights that DOGE is currently facing strong resistance between the $0.166 and $0.171 levels, with a significant number of addresses holding nearly 10 billion DOGE. However, if DOGE bulls manage to surpass this barrier, Martinez believes that DOGE has the potential to double in value, with the next key resistance level at around $0.322.
At the time of writing, DOGE is valued at $0.166.
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