An analyst with a large following believes that if Dogecoin takes off, another meme coin will benefit from the excitement. The analyst also says that the leading altcoin Ethereum will gain strength against Bitcoin. Finally, the analyst assesses the state of the leading cryptocurrency.

Inmortal: If DOGE pumps, FLOKI follows!

Cryptocoin.comAs you’ve been following from the cryptocurrency market, the cryptocurrency market continues its rollercoaster ride. Bitcoin, the leading crypto, jumped to $65,000 after seeing below $60,000. However, hours before the halving event, it is struggling to maintain this momentum. Bitcoin’s congestion is affecting the overall market. However, traders and investors are preparing for the future. Analyst nicknamed Inmortal says Floki (FLOKI) is ready to make a debut on April 20, dubbed “DOGE Day” by meme coin supporters. In this context, the analyst said, “Will DOGE be pumped on 4/20? If yes, FLOKI will follow. The confirmation is above 0.00016.”

Source: Inmortal

According to his chart, the analyst suggests that FLOKI will confirm the breakout if it turns the $0.00016 level into support. Meanwhile, at the time of writing, FLOKI was trading at $0.000141, up 1.4% on its daily chart. The altcoin lost 23.5% on its weekly chart.

According to the analyst, the leading altcoin will fly above 0.055 BTC!

Commenting on the latest market developments, Inmortal is hopeful for the leading altcoin. The analyst predicts that Ethereum (ETH) is preparing for a breakout against Bitcoin (ETH/BTC). In this direction, the analyst said, “Timing the exact bottom is not easy, nor is it necessary. I am not saying that this low is a pico bottom, but the structures and general sentiment suggest that this is a bottom formation. No need to stress, we are flying above 0.055 BTC.”

Source: Inmortal

Meanwhile, ETH/BTC was trading at 0.048 BTC ($3,066) at the time of writing.

Has Bitcoin reached its market bottom?

Finally, Inmortal takes on the leading crypto Bitcoin (BTC). The analyst says that BTC seems to have reached the bottom of the market. He expresses his views on this issue as follows:

Maybe we see another rise, maybe we don’t, but this is starting to feel like a bottom. Bullish divergence! The price is in the lower range (19% below the all-time high). The downtrend is not accelerating.

Source: Inmortal

Bitcoin, meanwhile, saw sharp movements during the day. It rose as high as $65,480 after falling to $59,600 last time. Currently, it has settled near the upper level. At the time of writing, BTC was trading at $64,640, up 1.5% on a daily basis.