A well-known cryptocurrency analyst is suggesting that altcoins are set to rally, with one particular meme coin poised to benefit greatly. Rekt Capital, who has a large following on the social media platform X, believes that the OTHERS chart, which tracks the market capitalization of all cryptocurrencies excluding the top 10 digital assets, is showing signs of a rebound at the $250 billion mark. According to the analyst’s chart, the next target is $315 billion, with a potential push to previous highs near $425 billion.
When it comes to specific altcoins, Rekt Capital highlights Dogecoin (DOGE) as a standout performer. The analyst notes that DOGE has confirmed its long-term uptrend after successfully testing the $0.12 level. The chart indicates that the next major resistance levels for DOGE are at $0.20 and $0.278.
At the time of writing, DOGE is trading at $0.163.
Meanwhile, Rekt Capital suggests that Bitcoin (BTC) has already found strong support around the $60,000 level. The analyst believes that the recent dip was just a downside wick and that Bitcoin’s weekly close will confirm the $60,000 level as solid support.
At the time of writing, Bitcoin is trading at $64,265.
It’s important to note that the opinions expressed by Rekt Capital are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.
