A cryptocurrency trader and analyst is sharing an optimistic perspective on Dogecoin (DOGE) as the popular memecoin stabilizes. The pseudonymous analyst known as Altcoin Sherpa informs his 11,300 subscribers on YouTube that DOGE has the potential to break out and possibly reach levels as high as $0.50.
However, he cautions that DOGE’s substantial market capitalization might hinder its growth potential. Additionally, he suggests that other memecoins like Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF) could surpass DOGE in performance.
“I genuinely believe DOGE will eventually explore higher price points. Levels around $0.35 to $0.40 seem achievable, and even $0.50 might not be out of the question. Yet, DOGE faces a challenge due to its size; retail investors might find it too pricey from a market cap standpoint and could prefer to invest in alternatives like Pepe, WIF, or Bonk—other significant memecoins that offer better upside potential while still maintaining good liquidity,” he explains.
Source: Altcoin Sherpa/YouTube
The analyst notes that DOGE maintains a robust market structure, suggesting it could continue to consolidate around the $0.12 mark for a bit longer before experiencing a breakout.
“It still appears quite favorable… I believe DOGE will continue to fluctuate but will ultimately perform well in the long run,” he adds.
As of this writing, DOGE is priced at $0.11, reflecting a nearly 4% decline over the past 24 hours.
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