A broadly adopted cryptocurrency analyst and dealer is expressing bullish sentiment on Dogecoin (DOGE).
The analyst pseudonymously referred to as Kaleo tells his 642,200 followers on the social media platform X that Dogecoin might go up by between 700% to 1,500% from the present degree.
“I nonetheless consider we’re in a meme coin supercycle and we’ll see DOGE ship to $1 – $2. Historical past simply says we most probably have somewhat little bit of time left to arrange for it earlier than it occurs.”
Dogecoin is buying and selling at $0.125 at time of writing.
On when Dogecoin might begin rallying, the pseudonymous analyst says,
“Every of these respective strikes [previous Dogecoin rallies] took roughly eight to 9 months after the [Bitcoin] halving earlier than they started to pump. We’re presently solely two months previous the newest Bitcoin halving. With that in thoughts, it will truly be extra becoming to the development that an actual breakout/enlargement transfer doesn’t occur till December – February.”
The pseudonymous analyst and dealer, nonetheless, warns that Dogecoin might first fall by as much as 36% earlier than rallying.
“With that in thoughts, I wouldn’t be stunned to see the present bullish development break decrease again to the eight to 10 cents vary and retrace the February transfer up [from around $0.09 to $0.22] that we noticed. An identical development break with roughly 30% drawdown and retrace occurred in August of 2020, a number of months earlier than the start of DOGE going mainstream and gigasending.”
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