Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.
A crypto analyst known as Altcoin Sherpa shared insights suggesting significant potential for several cryptocurrencies in the market.
In a post on X, formerly Twitter, last Thursday, Altcoin Sherpa predicted a substantial surge in the price of Dogecoin (CRYPTO: DOGE), estimating a possible increase of over 200% from its current value.
Altcoin Sherpa highlighted Dogecoin's enduring popularity and potential for significant gains in the coming months.
“DOGE: this is still a great long-term investment to be honest. And by long term, I mean like six months-plus. It’s going to do something insane this cycle and still should be at least a 3x-plus from here (possibly more). It accumulated for 700 days, still is the banner meme for all of crypto, and is very ‘safe’ given the market cap/liquidity/etc,” they wrote on X.
$DOGE: This is still a great long term investment to be honest. And by long term, I mean like 6 months+. It's going to do something insane this cycle and still should be at least a 3x+ from here (possibly more). It accumulated for 700 days, still is the banner meme for all of… pic.twitter.com/hpA2h7CdKbAlso Read: Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours— Altcoin Sherpa (@AltcoinSherpa) March 28, 2024
Regarding Bitcoin (CRYPTO: BTC), Altcoin Sherpa suggested that the cryptocurrency is in a consolidation phase before a potential uptrend.
“BTC: price has consolidated here for about one month. Overall, this is bullish and I don’t think we go lower than that range low at $60,000 (in the short term). Expecting a bit more chop and then we do the next leg up. No reason to be bearish at all in my opinion,” they said on X.
$BTC: Price has consolidated here for about 1 month. Overall, this is bullish and I don't think we go lower than that range low at $60k (in the short term). Expecting a bit more chop and then we do the next leg up. No reason to be bearish at all IMO. pic.twitter.com/1N99KzlGpoHowever, the analyst remained bullish on Bitcoin's prospects and anticipated further price appreciation soon.— Altcoin Sherpa (@AltcoinSherpa) March 29, 2024
Altcoin Sherpa also expressesed optimism about the prospects of Fetch.ai (FET), an artificial intelligence-focused cryptocurrency project.
They advised traders to consider buying on dips, indicating confidence in Fetch.ai's future performance.
At the time of writing, Dogecoin was trading at $0.2063, up almost 20% in the last seven days. Similarly, Bitcoin was trading at $70,294.65, up 8% in the last seven days.
Now Read: Whopping $33.8 Million Worth Of Dogecoin Shifted To Robinhood — And People Suspect This Person Could Be Behind It
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