Dogecoin Poised to Soar with Bitcoin's Continued Rise

According to a renowned cryptocurrency trader known as "DonAlt," Dogecoin (DOGE) is well-positioned to follow Bitcoin's (BTC) upward trajectory. DonAlt believes DOGE is among the few altcoins that could outperform the dominant cryptocurrency.

DonAlt has previously expressed his optimism for Dogecoin's growth. Recently, he suggested that DOGE could experience a significant surge if it follows a similar pattern to its previous rally in October and November, which saw its price rise from $0.11 to $0.40.

If the next growth phase is at least half as substantial as the first, Dogecoin could not only surpass its previous high but also reach the coveted $1 per DOGE mark.

Technical analysis indicates Dogecoin's commitment to consolidation and subsequent upward movement on short time frames like hourly charts. The price has already exhibited this pattern twice, with the third consolidation currently forming.

Bitcoin's Influence

DonAlt emphasizes Bitcoin's primary role in driving the market. Bitcoin's continued ascent to new highs on a weekly basis has bolstered the bullish sentiment.

As of yesterday, Bitcoin reached a new peak of $93,905 on Binance, demonstrating its relentless drive towards all-time highs.