Bitrabo Editorial
In a recent assessment, prominent crypto expert Crypto Kaleo projects a bullish outlook for Dogecoin (DOGE), expecting the popular meme coin to experience a significant upward surge. Drawing on historical data, Kaleo confidently predicts an imminent rally for Dogecoin.
Prediction of Impending Dogecoin Surge by Analyst
Crypto Kaleo conveyed in a social media post on X (formerly Twitter) that Dogecoin is on the brink of a substantial rally as it is “due for a major pump.” Referencing past performance and linking it to GameStop’s earlier influence in 2021, Kaleo indicated that Dogecoin’s surge usually follows a trend set by other assets like GME.
The surge in Dogecoin’s value is often associated with significant market events, such as the GameStop short squeeze that ignited a frenzy in meme-related assets like Dogecoin and Shiba Inu (SHIB). Additionally, Kaleo pointed out that the DOGE/BTC ratio suggests a potential upward movement for Dogecoin.
Kaleo inferred that although the Dogecoin surge is imminent, it might require some time to materialize possibly in a few days to a couple of weeks. He remains optimistic, having held Dogecoin for an extended period and intends to accumulate more tokens in anticipation of the price spike.
Furthermore, Kaleo hinted that a temporary decline in Dogecoin’s value could precede the anticipated pump, drawing parallels to a similar pattern observed in 2021 when a retest of lower levels preceded a significant price increase for the meme coin. Kaleo and other analysts foresee Dogecoin’s value reaching $1 during the current bullish market trend.
Impending Breakout in Dogecoin Value
Another crypto analyst, World of Charts, highlighted an imminent breakout scenario for Dogecoin, projecting a substantial 100% increase in value to reach $0.3. Echoing this sentiment, analyst Jaydee emphasized the potential breakout based on Dogecoin’s monthly chart, anticipating a transformative impact on investors.
Crypto analyst Crypto Scient also anticipates a bullish trend reversal for Dogecoin that could spark a renewed interest in meme-related assets similar to the market frenzy witnessed in February. These predictions align with Kaleo’s speculation on the upcoming meme coin surge, reminiscent of the 2021 market conditions driven by events like GameStop’s stock surge.
As of the latest data from CoinMarketCap, Dogecoin is currently trading at approximately $0.15, showing a slight decrease of over 3% in the past 24 hours.