Cryptocurrency veteran Peter Brant is turning bullish Dogecoin (DOGE). At the same time, Shiba Inu (SHIB)the outlook for the second largest meme coin is also bullish. However, on-chain analytics platform Santiment suggested that investors may have to wait a while to see new highs.
Cryptocurrency Expert Turns Bullish on Dogecoin
Cryptocurrency expert Peter Brandt It has turned bullish on Dogecoin. In X’s last post, he suggested that the first memecoin would have Huge march Soon enough. Brandt highlighted the channel breakout on the DOGE chart, which he shared. Based on the chart, Dogecoin could rise to an all-time high (ATH) of $0.7 if it breaks that channel.
The trader also noted that the longer term could be constructive. It highlighted a historical reversal Head and shoulders pattern Which previously formed on the DOGE chart before its breakout. It seems that Dogecoin has completed this pattern again and is ready to break out to the upside. Based on the accompanying chart, the trader’s long-term price target for the meme coin is $2.5.
This provides a more optimistic outlook for Dogecoin, considering that much Cryptocurrency analysts like Crypto Kaleo Expect the meme to reach at least $1 in this uptrend. Kallio recently confirmed his prediction again, noting that DOGE to $1 is not just a “meme.”
Cryptocurrency Analyst Master Kenobi He stated that Dogecoin’s rise to $1 could mirror Bitcoin’s 2017 rise from $10,000 to $20,000 in just under two weeks. However, he is confident that DOGE’s rise from $0.10 to $1 could be faster. Mr. Kenobi also believes that the meme could still rise to $2 or higher, just as Brandt predicted. He stated that Dogecoin’s rise from $1 to $2 could happen “in one day, or two days at most.”
The Shiba Inu also gets attention
Shiba Inu The outlook is also bullish. The meme coin has risen more than 47% in the past seven days and is back above $0.00002. On-chain analytics platform Santiment revealed a significant spike in SHIB discussion rate. These discussions included the recent 33,000% increase in the Shiba Inu burn rate, Contributing to higher prices.
Meanwhile, Santiment also revealed in a previous post on X that Shiba Inu on-chain activity is on the rise compared to other altcoins and memecoins. Metrics such as size, circulation, and social dominance rose. Whale transactions It also recently rose to a 10-week high.
This indicates that FOMO towards the Shiba Inu is currently high, Santiment warned. Therefore, there is a high probability that the local summit is near. The platform added this These metrics are bullish It may need to calm down a bit before SHIB surpasses its year-high high of $0.000043, which was set earlier in February.
Featured image created with Dall.E, chart from Tradingview.com
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