On Friday (May 7), just one day before Tesla CEO Elon Musk’s appearance on TV show Saturday Night Live (SNL), the Dogecoin ($DOGE) went above the $0.68 level. Crypto analyst and influencer Ben Armstrong feels confident that $DOGE is headed to $1.
Data by TradingView indicates that at 21:19 UTC on May 7, on crypto exchange Bittrex, the $DOGE price reached an intraday high of $0.6850.
Earlier today, Armstrong, who is the host of YouTube channel “BitBoy Crypto” had this to say about Dogecoin:
“I think it can definitely get to a dollar. I mean I don’t think there’s a question about it at this point. I think there’s just a matter of time. Now how far above a dollar can it get, I would argue not very far. I mean a lot of these guys that have been talking about having the diamond hands… a dollar’s the target…
“It far exceeded my expectations for this bull run… I bought some Dogecoin over the weekend. It’s doing really well, but it’s definitely not something I’m looking to have long term in my portfolio…“
Dogecoin has one of the most insane charts I’ve witnessed in crypto… Not a long hold for me.https://t.co/vApOVfLlKl pic.twitter.com/cmR48AdIZm
— Ben Armstrong (@Bitboy_Crypto) May 7, 2021
On-chain analyst “Dilution-proof”, who writes for Bitcoin Magazine, says “the activity on the Dogecoin subreddit has been on a league of its own this week.”
The activity on the Dogecoin subreddit has been on a league of its own this week ?
There are a lot of parallels to the recent GameStop situation$DOGE could still pump but is bound to crash HARD at some point. Consider buying #bitcoin instead – you’ll sleep better ? pic.twitter.com/KYL5WgaGlr
— Dilution-proof (@dilutionproof) May 7, 2021
Cryptocurrency social media analytics platform LunarCRUSH said a few hours ago that out of all top 10 cryptoassets by market cap, in terms of “Twitter Volume + Bullish Sentiment”, over the last seven days, Dogecoin came out in first place.
A look at the Top 10 coins by Twitter Volume + Bullish Sentiment over the last 7 days. Wow.?
1 $doge #dogecoin
2 $btc #bitcoin
3 #safemoon
4 $cake #pancakeswap
5 $eth #ethereum
6 $sol #solana
7 $bnb #BNB
8 $ada #cardano
9 $link #chainlink
10 $xrp #xrphttps://t.co/LXiFtTCBiM pic.twitter.com/PdhxPsGzBX
— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) May 7, 2021
This is what pseudo-anonymous crypto analyst and trader “Kaleo” had to say about Dogecoin’s recent price action:
If you don’t look at this and realize that $DOGE is about to enter price discovery, you don’t like money. pic.twitter.com/LZjJXwaDBG
— K A L E O (@CryptoKaleo) May 7, 2021
