Crypto industry veteran Peter Brandt is getting 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 witness new highs.
Crypto veteran turns bullish on Dogecoin
Cryptocurrency veteran Peter Brandt He has taken a bullish stance on Dogecoin. In a recent post by X, he said that the cutting-edge meme coin large gathering immediately. Mr. Brandt highlighted and shared the channel breakout on the DOGE chart. Based on the chart, if Dogecoin breaks out of that channel, it could rise to the current high (ATH) of $0.7.
The trader also said the longer-term view could be constructive. he emphasized the reversal of history head and shoulders pattern It had previously formed on DOGE's charts before DOGE broke out. Dogecoin appears to have completed this pattern once again and is ready for a breakout to the upside. Based on the attached chart, traders' long-term memecoin price target is $2.5.
This provides a more bullish outlook for Dogecoin. Crypto Analysts Like Crypto Kaleo They predicted that the meme coin would reach at least $1 in this bull market. Kaleo recently reaffirmed his prediction, saying DOGE to the dollar is not a “meme.”
Crypto Analyst Master Kenobi He said Dogecoin's rise to $1 may reflect what happened in 2017, when Bitcoin rose from $10,000 to $20,000 in less than two weeks. However, he believes DOGE's rise from $0.10 to $1 could be even faster. Master Kenobi also believes that memecoin still has the potential to rise above $2, just as Brandt predicted. He said Dogecoin's rise from $1 to $2 could happen in “one day, two days at most.”
Also pay attention to Shiba Inu
Shiba Inu The outlook is also bullish. Memecoin has surged more than 47% in the past seven days and once again crossed $0.00002. On-chain analytics platform Santiment has revealed that the discussion rate of SHIB has increased significantly. These discussions include the recent 33,000% spike in burn rates in Shiba Inu dogs. Contributes to soaring prices.
Meanwhile, in a previous X post, Santiment also revealed that Shiba Inu has seen a spike in on-chain activity compared to other altcoins and meme coins. Indicators such as volume, circulation, and social dominance have skyrocketed. whale trading It recently rose to a 10-week high.
Santimento warned that this shows that FOMO towards Shiba Inu is currently high. Therefore, there is a high possibility that the local top person is close. The platform added: These bullish indicators SHIB may need to calm down a bit before it surpasses its year-to-date high of $0.000043, set in early February.
Featured image created by Dall.E, Charts from Tradingview.com
