Cryptocurrency investors have been told to expect an increase in Doge value and not close their hopes for BNB yet, as the year draws to a close. Investors are to get onto Doge as it prepares for a massive rally and “not sleep on Binance coin” according to an analyst.
Smart Contracter, a pseudonymous analyst, trader, and strategist, who is primarily active on Twitter, tweeted to his nearly 177k Twitter followers that DOGE and BNB are going to perform well in the future. Smart Contracter said that he believes that DOGE will eventually hit $1 after it makes a massive rally from its current $0.268 price. The token would need to do a massive 270+% in profits to hit the former price.
Sentiments May Drive DOGE Price Higher
According to Smart Contracter, he expects DOGE to hit $1 because he does not imagine that Elon Musk, the popular Tesla CEO who is a known Dogecoin fan and lover, will allow “his baby” to be overtaken by Shiba Inu, the hot memecoin that is doing so many wonders in the market. Shiba Inu is currently trading at $0.00006437 after a sizable 8% drop in the last 24 hours. Shiba Inu and DOGE are commonly referred to as the coins of the people due to the immense gains that they have made this year.
While many are backing Shiba Inu, popularly called the Dogekiller, to win the race to hit $1, Smart Contracter appears to be placing his cards on DOGE to reach that price before Shiba Inu.
As seen on Tradingview, DOGE has now formed what is called a double bottom -two successive retests of the support zone- and is gradually forming a buying candle after a long indecisive candle on the weekly chart. The daily chart shows a bearish candle that is looking to retest the $0.25 mark. However, the market seems to be gathering momentum for a leap even as it consolidates. The pseudonymous analyst might be onto something serious there.
Watch Out For BNB
In a second tweet, Smart Contracter asked his followers to keep an eye on Binance’s native token, BNB, and to “not sleep” on it. Contracter is surely keeping a keen eye on BNB’s movement as it has now broken out of an inverse head and shoulders pattern. The HSS (HEad and Shoulders) pattern is widely regarded as a prominent reversal pattern in the financial markets.
According to the trader, BNB might be on a move to break into a new ATH as it seeks higher prices. BNB has endured a slower start to the bull season as it has not kept up with the memecoins’ tremendous leaps. BNB has maintained a resectable increase in value, however, and hit its ATH in may shortly before the market meltdown. Since its recovery, BNB has stayed a steady bullish course and now trades at $539.11 after a 2.04% drop in 24 hours (obtained from Coinmarketcap as of press time)