A cryptocurrency trader and analyst is sharing an optimistic perspective on Dogecoin (DOGE) as the popular memecoin stabilizes. Pseudonymous analyst Altcoin Sherpa informs his 11,300 YouTube followers that DOGE could potentially break out and reach levels as high as $0.50.

However, he cautions that DOGE’s substantial market capitalization may hinder its upward movement. He also suggests that other memecoins, such as Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF), might outperform DOGE.

“I genuinely believe that DOGE will eventually test some of these upper levels. I see $0.35 to $0.40 as certainly within reach, and even $0.50 could be a possibility. Yet, DOGE might face the challenge of being perceived as too large at this stage… Retail investors could feel that DOGE is too costly in terms of market cap and opt for investing in options like Pepe, WIF, or Bonk—other sizable meme coins that still offer significant liquidity and greater potential upside. That could be a concern for DOGE.”

Source: Altcoin Sherpa/YouTube

The analyst further states that DOGE maintains a robust market structure and may linger around the $0.12 mark for a while longer before making a significant move.

“It still appears quite positive… I think DOGE will oscillate for a bit, but ultimately, I believe it will perform well.”

At the time of writing, DOGE is priced at $0.11, reflecting nearly a 4% decline over the past 24 hours.

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