Crypto veteran Peter Brant has come of age Dogecoin (DOGE). At the same time, Shiba Inu (SHIB)the second largest meme coin is also bullish. However, on-chain analytics platform Santiment suggested that investors may have to wait a little longer to see new highs.
Crypto Veteran Turns Bullish on Dogecoin
Crypto veteran Peter Brandt switch to Dogecoin. In a recent X post, he suggested that a premium meme coin could enjoy a a big rally soon enough. Brandt highlighted the channel breakout on the DOGE chart, which he shared. Based on the chart, Dogecoin could go to a new high (ATH) of $0.7 if it breaks above that channel.
The trader also noted that the long term can build. He highlighted the opposite of history head and shoulders pattern which had been formed on the DOGE chart before it emerged. Dogecoin seems to have completed this pattern and is ready to explode to the top. Based on his chart accompanying this article, the dealer price of the meme coin in the long term is $2.5.
This gives a better idea of ​​Dogecoin, considering that much crypto analysts like Crypto Kaleo they predicted that the meme coin will at least reach $1 in this bull run. Kaleo recently confirmed his prediction again, saying that DOGE to $1 is not a “meme.”
Crypto Master Kenobi Analyst he said Dogecoin’s rise to $1 would be similar to Bitcoin’s 2017 rally from $10,000 to $20,000 in less than two weeks. However, he is convinced that DOGE’s rally from $0.10 to $1 could be even faster. Master Kenobi also believes that the meme coin could still rally to $2 or more, just as Brandt predicted. He said Dogecoin’s rally from $1 to $2 could happen “in a day, or two at the most.”
Shiba Inu Gets Attention Too
Shiba Inu the outlook is also bullish. The meme coin has risen over 47% in the past seven days and is back above $0.00002. On-chain analytics platform Santiment has revealed that there has been a significant increase in the level of SHIB transactions. These discussions included a recent 33,000% increase in the number of Shiba Inu cremations, which contributes to the price increase.
Meanwhile, Santiment also pointed out in a previous X post that Shiba Inu’s on-chain activity is growing compared to other altcoins and meme coins. Metrics like volume, circulation, and social dominance have a spike. Whale trading and recently moved to a 10-week high.
Santiment warned that this indicates that FOMO towards the Shiba Inu is currently high. Therefore, there is a high probability that the top of the area is near. The forum added that these are bullish metrics they may need to calm down a bit before SHIB surpasses its annual high of $0.000043, recorded earlier this February.
The featured image was created with Dall.E, a chart from Tradingview.com