A popular crypto analyst and trader predicts a strong rally for Dogecoin (DOGE) as the dog-themed meme coin is showing signs of life.
Rekt Capital predicts more than 30% upside potential for Dogecoin
Musk’s adoption, with Tesla CEO Elon Musk’s acquisition of Twitter, as we reported on Kriptokoin.com For Dogecoin (DOGE), the question of whether ‘good days’ are coming soon came to mind. The crypto analyst
, nicknamed Rekt Capital, told his 298,800 Twitter followers that Dogecoin (DOGE) has managed to recapture a very important level on the monthly timeframe after a nearly 40% rise on April 25. The popular analyst shared the following:
DOGE returned to the range of $0.14-0.20. As long as it stays above the low green range, DOGE will confirm a +44% return to the wide range.
Dogecoin, which was created as a parody of Bitcoin inspired by the Japanese Shiba Inu dog breed, was trading at $0.1405 at the time of writing, with a 13.53% loss in the last 24 hours, according to CoinMarketcap data. . A move to the top of Rekt Capital’s product range represents more than 30% upside potential.
Josh Rager: DOGE needs to rally more than 4x for ATH
Leading analytics firm IntoTheBlock says that Dogecoin’s strong rally yesterday came with massive volume from derivatives markets and states the following:
DOGE reacts to the possible acquisition of Twitter by Elon Musk. Volume in perpetual swaps increased 6x in 24 hours, reaching a three-week high of $3.13 billion.
The analysis platform refers to new developments regarding Elon Musk’s bid to buy social media giant Twitter. Elon Musk is reportedly ready to take over Twitter with the help of banking giant Morgan Stanley.
As investors flock to the leading meme cryptocurrency, another crypto analyst, Josh Rager, points out that DOGE needs to rally over 4x to climb to its all-time high:
OK. DOGE only needs another 350% from here, and most retail investors will be at break-even point from entry.
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