Is It Time For Altcoins To Shine? Expert Predicts Uptick For DOGE As BTC Finds Solid Ground

In recent predictions, prominent cryptocurrency experts have predicted a surge in altcoins, predicting that Dogecoin (CRYPTO: DOGE) is likely to witness a significant rally.

what happened: cryptography expert known as Recto Capital, He shared his predictions with his 461,000 followers on the social media platform, the Daily Hoddle reported on Monday. He suggested that the OTHERS chart, which tracks the market capitalization of all but the top 10 cryptocurrencies, is likely gearing up for a rebound from the $250 billion mark.

Rekt Capital’s chart shows an initial target of $315 billion, which could then rise to near its historic peak of $425 billion.

“The altcoin market cap still holds $250 billion as support and is poised to move higher via the black path in the future,” he said.

See also: EcoAi Coin: Sustainable digital token for a greener planet

Especially for Dogecoin, experts confirmed the macro uptrend after the successful retest of the $0.12 level. The chart shows that the next major resistance levels are $0.20 and $0.278.

Rekt Capital also shared his views on Bitcoin (CRYPTO:BTC) and suggested that the crypto king may have already found solid support near the $60,000 level.

Why it’s important: Rekt Capital’s prediction follows similar predictions by cryptocurrency analysts michael van de poppe, predicted that the altcoin market would rise significantly amid disappointing US economic indicators. Van de Poppe suggested the Federal Reserve’s potential response to the job market downturn could cause a rise in risk-on assets.

Victor, An anonymous researcher specializing in decentralized finance pointed out that altcoins have outperformed Bitcoin during the recent market downturn. Victor suggested two possible scenarios. Altcoins could either witness a significant drop in the next selloff, or the liquidation cascade on April 12-13 might not leave many sellers compared to Bitcoin.

Price action: DOGE was trading at $0.159 on Monday, while BTC was trading at $63,564.40 at the time of writing, according to Benzinga Pro.

Read next: Kraken’s new margin pair listing causes “Dogecoin killer” Shiba Inu’s burn rate to jump 800%

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