A crypto strategist, known for his contrarian views, is cautioning that Dogecoin (DOGE) may experience a decline even if Bitcoin (BTC) reaches new all-time highs.

Credible, an anonymous analyst, explains to his 395,500 followers on the social media platform X that DOGE could fall regardless of BTC’s next move.

“There are two main ways that something like DOGE could reject and decline:
1. BTC rejects and declines.
2. BTC experiences a significant surge, capturing the attention of the market and causing liquidity to flow out of other altcoins, including DOGE, and into BTC as it skyrockets…
As always, some altcoins will be exceptions to this liquidity drain, while others will be more affected.”

Last week, Credible predicted that BTC would soon make a major move towards $100,000. In this scenario, the analyst expects traders to sell off their altcoin holdings to capitalize on the BTC rally.

Another crypto analyst, Ali Martinez, is also closely monitoring the leading memecoin. Martinez believes that Dogecoin is facing strong resistance, but notes that the memecoin could see a 100% surge if DOGE bulls manage to surpass the $0.171 level.

“Dogecoin is currently facing significant resistance between $0.166 and $0.171, with approximately 75,500 addresses holding nearly 10 billion DOGE. However, if this barrier is overcome, DOGE has the potential to double, with the next major resistance at around $0.322.”

At the time of writing, DOGE is valued at $0.166.

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