In a Twitter post, the analyst said that DOGE has become one of the altcoins with a “strong position” and could well grow by 20%. The 200-day moving line is now at $0.075, a powerful resistance level, so the coin is unlikely to go lower.
“DOGE has become one of several altcoins that look very strong. I can’t say to what levels the coin will grow to, but I wouldn’t be surprised if the rise continues to at least $0.09 in the near future,” Altcoin Sherpa wrote.
A colleague was echoed by analyst Ali Martinez. He stated that the Dogecoin chart is drawing a descending triangle pattern. The coin rose 23,000% last year after breaking through the upper boundary of a similar triangle, so Martinez expects massive growth for the meme cryptocurrency.
A few days ago, DOGE rose 9% after Elon Musk mentioned it on Twitter.