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Benchmark meme token Dogecoin (DOGE) is leading the altcoin market surge, rising 114% over the past seven days.
DOGE was first triggered by the news that tech billionaire Elon Musk, one of Dogecoin’s most prolific backers, has successfully acquired social media giant Twitter.
Dogecoin is holding up most of its gains, rising more than 137% from around $0.059 to $0.14 and is currently trading at $0.129. At time of writing.
Despite making big profits in a short period of time, the pseudonymous crypto trader known as Kaleo says he probably has a long way to go.
Featured Analyst To tell His 537,000 Twitter followers said that with a little patience, traders could see another sizeable rise in DOGE.
Please feel that Dogecoin is not finished yet.
Don’t expect to see the same types of moves we saw this weekend anytime soon.
According to popular traders, DOGE is ushering the altcoin market into another alt season, when altcoins significantly outperform Bitcoin (BTC).
Kaleo shares the chart of Dogecoin’s bitcoin pair (DOGE/BTC).
DOGE still looks pretty bullish.
Another popular crypto analyst, known as Smart Contracts, is also eyeing Dogecoin. Like Kaleo, Smart Contract has radar on his DOGE/BTC, saying it looks very bullish.
For the next few months at least, I am thinking of simply putting the rest of my BTC into DOGE.
This DOGE/BTC chart is the craziest bullish I’ve seen in a long time.
Almost a year-long IHS (inverted head and shoulder) breakout that almost no one talks about. “
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Featured Image: Shutterstock/tunnelmotions/MrArtHit
