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A popular crypto trader, Bluntz, forecasted a significant price rally for Dogecoin against Bitcoin today. Bluntz tweeted to his subscribers that the DOGE/BTC trading pair "is getting ready for a revenge pump for probably 100% or more."
Based on his graphical analysis, Bluntz recognized that Doge had formed an upward trend that may surprise the crypto community. Bluntz seems convinced that doge will keep pushing up prices, warning that investors would be negligent to miss this potential opportunity.
The sentiment of Bluntz seems to be supported by other crypto analysts who are also confident that Doge is destined for massive growth.
Bluntz also disclosed that the Dogecoin/USD trading pair has finally broken out of a consolidation channel, indicating that Doge is “loading and set to lead the altcoin season.” He said it was only a question before the cryptomer showed a huge increase in prices.
Is Dogecoin worth more than Bitcoin?
For investors seeking to invest in cryptocurrencies, Dogecoin is one of the major altcoins that can prove to be a better investment choice.
Dogecoin is currently the ninth most important cryptocurrency. However, dogecoin seems to be a good option for investors interested in taking some risk.
The price of the dog appears to be relatively less volatile than the price of the btc. As a result, its price’s relative stability makes many investors consider it a more suitable currency for daily transactions than BTC.
Despite some of the outlets that Dogecoin has over Bitcoin, BTC still has important benefits on the Shiba Inu crypto theme.
The value of BTC is considerably greater than that of Doge. Bitcoin of all time is more than $69,000, whereas dogecoin is around $0.70. The price difference shows why millions of people invest in Bitcoin because they believe it is a trustworthy long-term value store.
In the eyes of the public, wealthy investors have less confidence when it comes to investing large sums of money in Dogecoin. Instead, institutions prefer bitcoin as their investment choice. In that sense, Doge is likely to lag behind Bitcoin.
Analysis of the Doge prizes.
At the time of writing, Dogecoin is trading its price at $0.09, up 7.39%, with a trading volume of $1.3 million in the last 24 hours, as per Coinmarketcap.
So far, the Dogecoin trading chart shows ranging vector candles to the upside, indicating that the crypto asset is currently bullish. In addition, the movement appears to be aiming for a higher peak, which may lead to further price increases. Buyers seem to take over and push the price higher.
If Doge continues its upward trend, and in the coming days it will probably climb to the resistance level of $0.1507. But if the coin sees a price adjustment, he's going to retreat at 07.
