Bitrabo Editorial
A cryptocurrency analyst known as Kevin, formerly OG Yomi, has pointed out a bullish pattern on the Dogecoin (DOGE) chart, indicating an imminent breakout. This prediction comes following a significant increase in accumulation by DOGE whales, potentially influencing the anticipated breakout.
Dogecoin Showing Signs of Impending Breakout
Kevin highlighted in a recent post on X (formerly Twitter) that the Bollinger Bands breakout indicator for Dogecoin is signaling an approaching breakout, expected to be the first one since November 2020. Additionally, he mentioned that DOGE is on the verge of experiencing a bullish cross with the Moving Average Convergence/Divergence (MACD) indicator, a pattern not seen since November 2020.
Emphasizing his confidence in the imminent breakout, Kevin suggested that it was inevitable. Another crypto analyst named Kaleo echoed similar sentiments in a recent X post, claiming that Dogecoin appears poised for a significant upward movement. Kaleo went so far as to predict that Dogecoin would outperform Bitcoin in the current bullish market phase.
In a previous prediction made in April, Kevin suggested that Dogecoin could surpass Bitcoin’s performance if it maintains its current momentum. He also forecasted that DOGE could reach as high as $3 based on historical data, potentially surpassing Bitcoin.
The recent surge in Dogecoin’s price could be attributed to substantial purchases made by Dogecoin whales, acquiring over 900 million DOGE in the last week. Analyst Ali Martinez also indicated a potential price surge for Dogecoin, drawing parallels to previous price movements before significant rallies.
Potential for DOGE to Reach $10 in the Current Cycle
Another crypto analyst, Javon Marks, put forth a more ambitious price prediction, suggesting that Dogecoin could reach $10 in the near future. Marks highlighted a trend of consistent growth in each of Dogecoin’s bull runs, indicating a potential rally to $16 in the current cycle.
He referenced the historical trend of Dogecoin’s performance in bull markets, projecting a significant increase compared to its previous surge of over 20,000% in the 2021 bull run.
As of the latest data, Dogecoin is currently trading around $0.16, experiencing a decrease in value over the past 24 hours according to data from CoinMarketCap.