Dogecoin (DOGE) is one of the most common trading and investment “go-to” coins in recent months. The “Dogefather” Elon Musk and other few supporters are quite praised. The DOGE traded at level $0.72 at the moment.
The trader and analyst Alex Saunders was popular for his bitcoin prophecy. He had recently anticipated the correction from $58,000 to below $45,000 for Bitcoin in February.
According to his latest interview, he was not impressed with the meme coin. Nuggetnews spoke of the possible effects of DOGE prices after the hyped SNL appearance of Elon Musk. He said: He said
“Elon Musk has been one of the people tweeting about Dogecoin a lot. He’s on Saturday Night Live which is a massive show in America and so now there’s all this speculation that he’s going to talk about Dogecoin and there’s a bit of a trending meme that’s, Dogecoin to a dollar. That actually started when Dogecoin was a couple of cents and now today I think we’ve hit $0.60 something or $0.70 so it’s incredible.”
However, without considering the impressive surge, he remained critical of Dogecoin by associating it with a bubble. He added:
“It is now in a bubble. It’s going to pop up, but I don ‘t surprise if it’s a news sell-them thing, maybe we’re hitting a dollar, but I believe this Saturday night life will be popped up and hyped up by all.”
The speculation of Dogecoin was similar to that of ‘bubble.’ The analyst, however, admitted that another influencer, Mark Cuban, supported the meme coin. The news added a touch of credibility to the joke coin when Shark Tank star Mark Cuban announced that the DOGE payments were approved at his Dallas Mavericks event and online shop.
Another alt’s profit is one coin’s loss?
Saunders said that XRP is perfectly poised to profit from industry trends. Dogecoin recently ranked XRP as the fourth highest market capitalization cryptograph. The analyst said, however, that “The retail cash chasing US$DOGE is quickly going to chase USD$XRP. This is that I think #XRP has a fair chance of pumping the hardest once every four years.”