Dogecoin And Altcoins Poised For Rally If Bitcoin Hits Record High, Says Crypto Analyst

A prominent cryptocurrency analyst forecasts a significant rally for Dogecoin DOGE/USD and other altcoins, including Bitcoin BTC/USD and NEAR Protocol NEAR/USD.

What Happened: A widely followed analyst known as The Crypto Dog shared his predictions on the social media platform X, Daily Hodl reported on Friday. He told his 782,000 followers that Dogecoin could surge to $0.30, a 78% increase from its current price if Bitcoin reaches a new all-time high.

The Crypto Dog expressed optimism, stating, “Feel pretty good about DOGE actually.” He also suggested that Bitcoin (BTC) might be entering another bullish phase, indicating potential for holding BTC long-term as it reaches new highs.

Additionally, The Crypto Dog highlighted NEAR Protocol, predicting it could surpass its 22-month high of $9.10, approximately 15% above its current price. He remarked, “NEAR about to put in that move past new yearly highs.”

The analyst also mentioned Saga SAGA/USD, suggesting that its downtrend might be ending soon, making it a token to watch closely.

See Also: Bitcoin, Ethereum, Dogecoin On A Knife’s Edge As ETF Decision Looms: ‘Weak Weak Weak’ Market, Says Trader

Why It Matters: A cryptocurrency analyst recently predicted an altcoin boom amid economic challenges, indicating that the altcoin bull market had already begun. This forecast aligns with The Crypto Dog’s recent predictions, suggesting a broader trend in the market.

Furthermore, on May 19, a top trader shifted focus from Bitcoin to altcoins, including Shiba Inu SHIB/USD, highlighting the growing interest in altcoins over Bitcoin. This shift underscores the increasing confidence in altcoins as viable investment options.

Additionally, an expert predicted a 60% rally for Ethereum (CRYPTO: ETH) following the approval of an ETF, indicating that the market is poised for significant movements. This optimism for Ethereum’s growth further supports the bullish sentiment for other altcoins like Dogecoin and NEAR Protocol (NEAR).

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari