A renowned crypto analyst believes that altcoins are poised for a rally, with one popular memecoin set to benefit greatly. The analyst, who goes by the name Rekt Capital, has a large following on the social media site X and suggests that the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the top 10 digital assets, is showing signs of a potential rebound from the $250 billion mark. According to Rekt Capital’s analysis, the chart indicates a target of $315 billion initially, followed by a potential surge to the previous highs of around $425 billion.

In terms of specific altcoins, Rekt Capital highlights Dogecoin (DOGE), stating that it has officially confirmed its long-term upward trend following a successful retest of the $0.12 level. The analyst’s chart suggests that the next significant resistance levels for DOGE are at $0.20 and $0.278.

At the time of writing, DOGE is trading at $0.163. As for Bitcoin (BTC), Rekt Capital suggests that it has likely found strong support around the $60,000 level. The analyst believes that a weekly close at this level would confirm it as a secure support zone.

At the time of writing, Bitcoin is trading at $64,265.

It’s important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. Transfers and trades are done at one’s own risk, and any potential losses incurred are the responsibility of the individual. The Daily Hodl, where this article was originally published, does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor.