A popular cryptocurrency analyst has predicted that meme cryptocurrency Dogecoin (CRYPTO: DOGE) would surge over 270% from its current level.
What Happened: Pseudonymous analyst Smart Contracter told his more than 177,000 followers on Twitter that Dogecoin would rise to the $1 mark from its current level of $0.27. This indicates a massive 270.4% rally in the cryptocurrency’s price.
The analyst believes that the cryptocurrency’s formation of a double bottom pattern indicates a potential trend reversal.
there’s no fucking way elon is gonna let another meme coin overtake his baby $doge.
doge to $1 pic.twitter.com/qOOXZzP144
— Bluntz (@SmartContracter) October 28, 2021
See Also: How To Buy Dogecoin (DOGE)
Smart Contracter also believes that Binance Coin (CRYPTO: BNB), the utility token of cryptocurrency exchange Binance, is likely to now touch an all-time high (ATH), after having broken out.
$bnb breaking out now, dont sleep on this bad boy ATH is looking likely now.
— Bluntz (@SmartContracter) October 29, 2021
Why It Matters: Dogecoin has been outperformed by rival Shiba Inu (CRYPTO: SHIB), which has now emerged as the ninth-largest cryptocurrency by market capitalization, as per CoinMarketCap data.
Dogecoin’s year-to-date gains are an impressive 4642.07%. The meme cryptocurrency is down 63.5% from its all-time high of $0.7376 reached in May.
Binance Coin is the third-largest cryptocurrency by market capitalization. Its year-to-date gains stand at 1264.4%, but the token is down 24.9% from its all-time high of $690.93 reached in May.
Price Action: Dogecoin is down almost 0.3% during the past 24 hours, trading at $0.2700 at press time, while Binance Coin is down 1.9% over the 24 hour period to $519.42.
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