Dogecoin Set to Surge Over 200%, Says Crypto Analyst: 'It's Going To Do Something Insane This Cycle'

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 DOGE/USD, 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.

Also Read: Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours

Regarding Bitcoin BTC/USD, 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.

However, the analyst remained bullish on Bitcoin's prospects and anticipated further price appreciation soon.

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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