Cryptocurrency analyst who has held predictions more than 8 times has shared a prediction for a popular meme coin. Accordingly, renowned analyst Smart Contracter claims that the price of this meme coin will see double-digit rises. Here are the details…
Smart Contracter: “This meme coin is getting ready for a big splash”
Cryptocurrency analyst Smart Contracter, who gained popularity with many predictions in the past, made a new post about Dogecoin. According to him, the biggest meme coin in the cryptocurrency market will make a big splash in the near future. The analyst, in his post to over 211,000 Twitter followers, says that DOGE is currently in the accumulation phase. Accordingly, once the accumulation phase is complete, Dogecoin will begin a massive upward movement. Smart Contracter said:
“The DOGE/BTC trading pair continues its insane accumulation, which is evident on the wide-time chart. As an analyst, I haven’t seen such a clean buildup in a very long time. When I review this unit again in a year, you will see the difference. At that time, DOGE price will be trading much higher than the current $0.065.”
Meanwhile, the meme coin followed a relatively sideways price movement in September. Behind DOGE’s sideways movement was BTC, just like any other altcoin. As we reported, Bitcoin closed the past month with low volatility. Now DOGE has gained about 6% in the last 24 hours. Accordingly, at the time of writing, the dog-themed cryptocurrency is changing hands at $ 0.06445.
Santiment: “Dogecoin whale transactions are increasing”
Smart Contracter’s forecast appears to be in line with Santiment’s in-chain metrics. Analytics firm Santiment recently released an update for DOGE. The firm reported that Dogecoin has witnessed an increase in whale transactions and funding rates. Santiment’s post was as follows:
“Dogecoin has gained 9% in the last day and a half. It is also currently listed as the 10th largest digital asset by market cap in the crypto space. Recently, meme coin is also witnessing an increase in whale transactions and funding rates. The increase in these two data constitutes the main indicators of price direction change in a cryptocurrency.”
Meanwhile, online investment app Robinhood currently hosts the address that holds the most DOGE. This address holds one-third of the total Dogecoin supply on the market. The value of DOGE in the aforementioned ratio is approximately 2.5 billion dollars.
His previous predictions were correct.
As we have reported as Kriptokoin.com, Smart Contracter has gained notoriety with some of its predictions in the past. For example, the analyst claimed that in 2020, the price of Bitcoin will rise to $ 3,200 and then explode. Indeed, at that time, BTC started an upward movement after reaching the aforementioned level. That year, the leading cryptocurrency was trading at a record $14,000 at year-end.
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