A popular Bitcoin advocate has switched sides in favor of Dogecoin. Roger Ver argues that Dogecoin is superior to Bitcoin and supports Elon Musk’s bid to buy Twitter. Ethereum price volatility has increased uncertainty among investors. However, analysts are optimistic about Ethereum and predict a rally in the altcoin.
Roger Ver switched sides: DOGE superior to BTC
Roger Ver, a leading crypto analyst, is popular in the crypto community as “Bitcoin Jesus”. The analyst recently returned to social media after a hiatus and shared his thoughts on Dogecoin. The analyst believes Dogecoin is superior to Bitcoin since the billionaire CEO of Tesla, a famous DOGE advocate, recently bought Twitter.
Analyst supports Elon Musk’s decision and believes DOGE can find benefits on Twitter. Interestingly, Roger Ver believes that Dogecoin is superior to Bitcoin and other altcoin projects. The analyst argues that if ordinary people use custodian wallets, Bitcoin will lose its only key feature that has revolutionized it, privacy.
Analyst shifted his focus from BTC to these altcoin projects
As is known, most centralized exchanges and custodian wallets require user authentication, violating the principle that distinguishes Bitcoin from other cryptocurrencies. For these reasons, Roger Ver shifted his focus from Bitcoin to Dogecoin and Bitcoin Cash.
AltcoinSherpa: DOGE price rally not sustainable
On the other hand, a crypto analyst and trader nicknamed AltcoinSherpa believes that the Dogecoin price rally is not sustainable. The analyst’s view is that strong individual participation near the end of a cycle is the ideal time for a DOGE price rally.
Leader altcoin price can wipe its losses on one condition
The Ethereum consensus layer now has 12 million ETH tokens. An increase in the staked Ethereum supply reduces its circulating supply. According to experts, a decrease in circulating supply means bullishness for the altcoin price.
After witnessing volatility in its price, Ethereum is on track to recoup its losses. According to data from Glassnode, the exchange net flow volume is at 6,244 ETH. This represents an uptrend among investors. Crypto analyst and trader, nicknamed Venturefounder, comments on Ethereum’s net currency flow:
ETH currency net flow over the past 1.5 years has been very good. $2.8k – $3k seems like everyone’s favorite drop.
As we have mentioned in cryptokoin.com news, fans, investors are waiting for the most anticipated He believes he is bullish on Ethereum because of ‘The Merge’. The consensus tier deposit contract has recently surpassed 12 million ETH tokens, accounting for more than 10% of the circulating ETH supply.
The critical level analysts identified for the altcoin
$34 billion in ETH has now been withdrawn from Ethereum’s circulating supply, with over 376,000 validators contributing to transactions worth 32 ETH or more. Analysts believe that Ethereum price can overcome the 55-day SMA, which is an important level to confirm the uptrend.
Analysts see $3,018.55 as a critical hurdle for bulls trying to recover. However, if the leading altcoin price dips below $2,800, analysts are drawing a downside target of $2,695.79. In addition, analysts detected a buying spree among Ethereum whales that took ETH from exchanges with a bullish move.