An anonymous analyst and trader, known as DonAlt, is expressing optimism about a major meme coin while revising his predictions for two of the top-10 altcoins by market capitalization.
DonAlt, who shares his insights with 62,700 subscribers on the TechnicalRoundup YouTube channel, believes that Dogecoin (DOGE) has the potential to surge by approximately 165% from its current price.
“I still believe Dogecoin is on track to reach a dollar. Yes.”
At the time of writing, Dogecoin is trading at $0.378, marking a 90% increase over the past week.
The analyst highlights that Dogecoin needs to surpass a key resistance level to reach his projected target.
“Dogecoin continues to show strength… As long as the overall crypto market remains bullish, which I expect for the next few weeks, higher price targets seem feasible. We could see it hit $0.58 and then face resistance at $1.”
Shifting focus to XRP, DonAlt suggests that if the seventh-largest cryptocurrency by market cap maintains its upward momentum, it could potentially surge by up to 300%.
“XRP is currently experiencing a monthly breakout. If this trend continues… there isn’t much resistance ahead. There’s a hurdle at $1.50, which represents a 2x increase, followed by $3.60, which is a 4x. This presents a clear trading opportunity.”
As for Solana (SOL), DonAlt observes that while the coin is struggling to sustain its breakout above $200, a potential surge could occur if Bitcoin (BTC) sees further gains.
“Despite facing the largest range breakout in a while, Solana didn’t see significant movement. This lack of momentum is not very encouraging, but as long as it holds above $180, the bullish trend remains intact. However, compared to other assets, Solana appears weaker.”
Solana is currently trading at $214, with a modest increase of less than 10% over the past week.
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Generated Image: Midjourney