Renowned crypto strategist Credible, known for his contrarian views, is cautioning investors that Dogecoin (DOGE) may experience a downturn even if Bitcoin (BTC) reaches new all-time highs.

In a message shared with his 395,500 followers on the social media platform X, Credible details two possible scenarios in which DOGE could decline. Firstly, if BTC rejects and declines, DOGE is likely to follow suit. Secondly, if BTC experiences a massive surge, drawing attention away from other altcoins including DOGE, liquidity may flow out of these altcoins and into BTC, causing DOGE to suffer.

Credible previously stated that he expects BTC to make a significant move towards $100,000 in the near future. In this scenario, he predicts that traders will sell off their altcoin holdings in order to ride the BTC rally.

Another crypto analyst, Ali Martinez, is also closely monitoring DOGE. Martinez notes that DOGE is currently facing strong resistance between the $0.166 and $0.171 levels, with 75,500 addresses holding nearly 10 billion DOGE. However, if this barrier is overcome, Martinez believes DOGE has the potential to double in value, with the next key resistance level at $0.322.

At the time of writing, DOGE is valued at $0.166.

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