DonAlt, one of the notable analysts of the cryptocurrency market, has made an ambitious prediction about Dogecoin (DOGE). According to the analyst, this popular meme coin could rise to $1, a 614% increase from its current price, and has the potential to reach an all-time high in this market cycle.
DonAlt stated that he bought DOGE at $0.12, and stated that this increase is possible as long as there is no major collapse in the crypto market. However, the analyst also draws attention to the risks of DOGE, emphasizing that this prediction is an assumption and can reverse at any time: “If the market changes direction, you will not be holding DOGE. This is an inherently useless and worthless meme,” he says.
In addition, DonAlt states that time is running out for Dogecoin to make a big move. The analyst, who says that the meme coin only has a few weeks left to make a move, states that he will end DOGE transactions if the rally he expects does not occur. Giving a definite date, he says, “I give it two weeks, take it or leave it.”
These statements could be a significant turning point for DOGE investors. Short-term investors may start to follow price movements more closely after this prediction. DonAlt’s assessment points to short-term opportunities that may arise in the market, while also encouraging investors to be cautious.
Can Dogecoin Revive the Crypto Market?
Another striking element in DonAlt’s assessment is that Dogecoin’s potential rise could affect not only its own investors, but also the entire cryptocurrency market. The appreciation of a widely known meme coin like DOGE could positively affect the overall market sentiment. The analyst explains this as follows: “The reason I like DOGE is simple: We are currently experiencing a PVP (player vs. player) meme war and we are seeing incredible increases. If you really want to kick this cycle into high gear, you need to highlight something high-profile that people have heard of before. Memes are a commodity, and DOGE is a crypto meme that people know.”
DonAlt believes that despite Dogecoin being a “meme,” it has succeeded in capturing people’s attention and that this rise could increase interest in the cryptocurrency. This could result in more trading volume and rising prices in the overall crypto market. In other words, DOGE has the potential to be a catalyst that could boost not just itself but the entire market.
A Different View in the Long Term
However, while DonAlt believes Dogecoin could make a big rally in the short term, he is not as optimistic about the long term. According to him, while Dogecoin and other meme coins may gain value in the short term, in the long term, these assets are almost certain to go to zero. “Honestly, I would rather people go into tech than buy something that’s going to go to zero; I have zero faith in DOGE in general,” he says.
However, he states that in the current conjuncture, Dogecoin can be a “flare gun” that can bring vitality to the crypto market again and emphasizes that DOGE has this potential under the right conditions. However, he reminds that if this big breakout does not happen, there is a high probability that Dogecoin will fade away like many meme coins. Stating that nothing is guaranteed in the long run, the analyst thinks that meme coins will inevitably go to zero.
As a result, it is difficult to make a definitive judgment about the future of Dogecoin. However, DonAlt’s analysis shows that DOGE can offer short-term opportunities that could have a major impact on the overall crypto market. It is important for investors to monitor the market carefully and make decisions based on their own risk tolerance.
