A top cryptocurrency analyst and trader believes Dogecoin (DOGE) could print a new all-time high this cycle.

Pseudonymous analyst DonAlt tells his 591,700 followers on the social media platform X that the memecoin may surge more than 624% from its current value.

“This is the chart for my thesis. I bought $0.12ish and think it can run to $1 as long as the crypto market doesn’t vanish again. That said I don’t know. You do you, not gonna hand hold anyone if it turns around. It’s a meme inherently useless and valueless, only retards trade this thing.”

The analyst says DOGE has a couple of weeks to make a move; otherwise, he’s out.

“I give it two weeks take it or leave it.”

The analyst also says a big rally for the well-known meme could boost the broader crypto market by re-igniting excitement for digital assets.

“The reason why I like DOGE is quite simple: we’ve been having PVP (player versus player) trench meme warfare, and incredible pumps and no one outside of our bubble cares.

If you truly want to put this cycle into high gear while attracting normies, you gotta pump something high-profile they’ve heard of before. Memes have been meta and DOGE is the crypto meme people know. That and the chart looks alright.

Wish people would come for the tech instead of buying something that’ll go to zero later, to be honest, and I have zero long-term faith in DOGE generally but right now it’s decently positioned to be the flare that gets eyes on crypto again if it just runs enough. Or it fizzles out, nothing is guaranteed besides the fact that all these memes will go to zero in the long run.”

DOGE is trading for $0.138 at time of writing, up 8.2% in the last 24 hours.