Crypto analyst bullish on Dogecoin as crypto market rallies

YouTube crypto analyst Austin Hilton expressed bullish views on the future of Dogecoin.

In a video posted on Dec. 7th, which also marked Dogecoin’s (DOGE) 10th birthday, the analyst pointed out that Dogecoin has seen a price increase of over 75% in the last 45 days. “Crazy, crazy good,” he remarked.

He believes the current crypto market rally, pushing the total market capitalization to over $1.6 trillion, is fueled by retail money flowing back into significant cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and altcoins. The analyst highlighted the recent 17% average price increase in Dogecoin.

We wanted and needed retail money to come back into all the blue chips, the altcoins so that we can continue to move this up. But Dogecoin and Shiba Inu by themselves have been running recently. And obviously Dogecoin leading that charge.

Austin Hilton

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The analyst believes the momentum will continue for Dogecoin and the broader crypto market for a few key reasons. Firstly, he pointed to the impending approval of a Bitcoin Exchange Traded Fund (ETF) expected in January 2024. Historically, the crypto market has seen substantial gains in December, and he expects this December to be no different.

Money has started flowing into major altcoins like Cardano (ADA), Polygon (MATIC), and Dogecoin. He called this a “good thing” and a sign of a healthy broad-based rally.

During the video, the analyst repeatedly encouraged viewers to take advantage of the current crypto rally. He highlighted his proprietary trading software and indicator, which can send buy and sell alerts to help time trades.

In closing, the analyst reiterated his bullish case for Dogecoin and the broader crypto market. “This is a good day to be in crypto. Let’s celebrate it. Let’s enjoy it,” he concluded.

Read more: Crypto analyst sees continued upside to Dogecoin gains