3 crypto analysts, known for their accurate claims, are updating their assumptions for 2 precious altcoins. Twitter analysts Kaleo and Smart Contracter say the Dogecoin rally is not over now.
Famous crypto whale says Dogecoin rally isn’t over now
Dogecoin is leading the altcoin market with 125% profit in the last seven days. First, it started to act after Elon Musk’s successful acquisition of Twitter. It then rallied over 150% at one point to as high as $0.1572.
Despite its huge gains in a short period of time, a cryptocurrency whale known as Kaleo says there’s probably more to come. The closely-followed analyst says with a little patience, investors may see another big rally for DOGE.
“DOGE still looks pretty bullish to me”
According to the popular analyst, DOGE is preparing the altcoin market for another “alt season”. Kaleo shares a chart for Dogecoin in the Bitcoin pair (DOGE/BTC), which he says shows great strength. According to the analyst, Dogecoin “still shows a very bullish trend” on this chart.
Altcoin seer Smart Contracter is also watching Dogecoin closely
You can find past accurate forecasts of Smart Contracter from this article. Just like Kaleo, he watches the DOGE/BTC chart closely. The analyst thinks this looks like a “crazy rise”:
I’m considering putting the rest of my BTC in DOGE for at least the next few months. This DOGE/BTC chart is the craziest bullish move I’ve seen in a long time. Contrasting head and shoulder fracture that lasted almost a year that almost no one talked about.
Senior Bloomerg analyst sees additional rallies for this altcoin
Mike McGlone, a senior analyst at Bloomberg, predicts additional rallies for Ethereum (ETH) due to various catalysts. You can find the successful claims of the analyst in this article. In his current analysis, McGlone says that Ethereum can bolster its value by the fact that stablecoins rely on its network to work:
Ethereum is basically doing to the world what Netflix did to Blockbuster. It’s causing a revolution in Fintech and things like that. The most valuable thing about Ethereum is that it makes possible the most process cryptocurrencies in the world, which are tokenized versions of the dollar. Basically, the dollar is the most traded crypto. Together it makes more processes than Ethereum and Bitcoin. This is because of Ethereum-based cryptocurrencies.
The analyst says he expects ETH to start rising against Bitcoin fueled by dwindling supply and increasing demand. According to McGlone, an appropriate supply-demand ratio means that the price “must rise” for ETH. In a recent interview, he noted the following about the impact of scarcity on price:
This trend of Ethereum still outperforming Bitcoin remains intact. Therefore, reinforcements around $1,000 hover around resistance around $2,000. But what he did this year was somewhat revolutionary. Switched to PoS amid the power crisis…Also supply is clearly falling. So I’m looking at this as the price should increase over time unless something changes in these trends… It should bounce back and continue to outperform Bitcoin.
Cryptotokoin.comAs you follow, Ethereum is currently trading at $1,571.15.