Known as DonAlt, a cryptocurrency analyst made exciting statements for Dogecoin investors.
The experienced name said that Dogecoin is ready for a 550% increase and pointed 1 dollar as the price target.
The analyst expressed that the current bull market will be “very, very big” and highlighted that it is not possible for DOGE not to reach 1 dollar in such a market.
Furthermore, the analyst stated that the DOGE/BTC pair is positioned right above a very nice support zone, which has increased his appetite:
The reason I find DOGE interesting is it has returned to the support on the Bitcoin chart. Looking at it from this point, the target is 1 dollar. I think this is not the worst case scenario… especially when it trades at 0.12 or 0.13 dollars because that will be the most favorable entry just 20% away from 0.10 dollars.
Despite all corrections, the analyst said that Bitcoin is in an upward trend and as long as the 43% increase candle in February is not erased with a big drop, this trend will continue.
