- The weekend bullish sentiments had Shiba Inu and DOGE posting double-digit upticks.
- The Coinist podcast host Luke Martin shares bullish views on Dogecoin through his latest tweets.
- Experts believe that meme coins will flourish by the end of the year, DOGE hitting $0.42.
Alternative coins, including SHIB and DOGE, had their prices surging during the weekend. With the recent meme coin actions, traders can now tell how the Shiba Inu-themed asset correlates.
Analysts Predict Meme Coin’s Rally
The two leading meme coins, Shiba Inu and Dogecoin, saw their price surging during the weekend. DOGE and SHIB registered the highest gains among the top alternative coins. That had most market players predicting bullishness in the meme asset’s space.
DOGE trends again after surging 18.8% in a week. A blockchain intelligence company IntoTheBlock utilized the GIOM indicator to detect whether DOGE addresses are profitable according to the prevailing assets price.
You can calculate the address’s average cost basing on the weighted average cost at which it received or bought the available Dogecoin.
The GIOM suggests that 66% of DOGE’s active addresses are profitable at the meme asset’s current price ($0.24). That translates to a bullish thesis for Dogecoin traders.
SHIB, the “DOGE killer,” appears to experience the positive sentiments that Dogecoin traders had. SHIB trades 21.3% high in one week. While writing this, SIB is almost 80% lower than its record highs. However, crypto fans remain optimistic due to the increased correlation between the canine-themed assets.
The recent SHIB and DOGE rally has had crypto experts predicting the Dogecoin could hit $0.42 by the end of this year. That translates to a 60% surge from DOGE’s current price. A price comparison platform, Finder polled 42 financial experts on their views concerning Dogecoin’s future.
Token Metrics senior crypto analysts Forrest Przybysz expects Dogecoin to surge with the booming crypto market. However, he believes that the meme coin will have to deal with speculative obstacles to meet its price targets.
The experts expect DOGE to hit $1.2 by 2025. He also sees Dogecoin at $3.6 by 2030.
During the panel meeting, John Hawkins, a University of Canberra lecturer, trusts that DOGE will value $0.15 by this year’s end and worth nothing by 2030.
According to the average responses, DOGE might trade near $0.42 before 2021 ends.
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