Benchmark meme token Dogecoin (DOGE) led the altcoin market rally, rising 114% over the past seven days.
DOGE initially started following news from tech billionaire Elon Musk, one of Dogecoin’s most prolific backers who has managed to outstrip social media giant Twitter.
Dogecoin rose from around $0.059 to $0.14, an increase of more than 137%, and has maintained most of its gains, currently trading at $0.129. at the time of writing.
Despite the huge gains in a short period of time, the anonymous cryptocurrency trader known as Kaleo said there could be more to come.
The analyst who followed closely told his 537,000 Twitter followers that with a little patience, traders could see another sizable uptick in DOGE.
“It feels like Dogecoin isn’t done yet.
Don’t expect to see the same type of move we saw this weekend right away, but with a little patience, another move higher should be seen. “
According to the popular trader, DOGE is leading the altcoin market into another “alt season,” or a period when altcoins are clearly outperforming Bitcoin (BTC).
Kaleo shared a chart of Dogecoin in his Bitcoin pair (DOGE/BTC), which he said showed great strength.
“DOGE is still quite Optimism in my opinion.”
Another popular cryptocurrency analyst, who goes by the pseudonym Smart Contracter, is also following Dogecoin. Like Kaleo, Smart Contracter has his eye on DOGE/BTC and says it looks “crazy bullish.”
“Consider putting my remaining BTC into DOGE for at least the next few months.
This DOGE/BTC chart is the wildest bullish thing I’ve seen in a long time.
Almost a year-long IHS (inverse head and shoulders) breakout that hardly anyone talks about. “
Source: Smart Contracter/Twitter Don’t Miss a Beat – Subscribe to get cryptocurrency email alerts delivered straight to your inbox
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The post Dogecoin (DOGE) Explosive 114% Rally Is Not Over, According to Top Analysts The post The Daily Hodl appeared first.
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