A well-known cryptocurrency has been named, the value of which can grow by 500%

A crypto analyst has expressed bullish sentiment on Dogecoin (DOGE), predicting the potential path of bitcoin (BTC).

The expert, who goes by the pseudonym DonAlt, told his 58,200 subscribers on the TechnicalRoundup YouTube channel that Dogecoin will reach a price of $ 1, which is approximately 554% of the current level.

At the time of writing, DOGE is trading at $ 0.17. According to the analyst, he is bullish on Dogecoin due to the recent price action of memcoin against bitcoin, which indicates its strong support.

«The reason why I find DOGE interesting is that it has returned to the support level on the BTC chart,» DonAlt emphasized.

As for bitcoin, DonAlt says its trend looks bullish, despite a double-digit correction BTC $56,501.78 Bitcoin -2.28% Market capitalization $1.11 trillion VOL. 24 hours $4.4 billion from the all-time high of over $ 73,000 reached earlier this month. «We are still in a massive uptrend. Dips are for buying, I think, if you’re going to get a pullback, and if the monthly [графік] is basically playing bearish, the best you can hope for is a pullback of most of the [лютневої місячної] candle [яка пролягає від $ 41 800 до $ 64 000],» the analyst emphasized.

Recently, a popular analyst Ali Martinez posted on social media, where he also predicted that DOGE would rise to $ 1 in the next month. The popular memecoin has recently reached an important support level of $ 0.2. It is noteworthy that the last time the asset was at such high levels was back in 2021. Martinez emphasized that the coin’s chart is currently forming a pattern that has always contributed to explosive growth in the past.