Analyst Predicts Dogecoin Rally
A crypto trader, Kaleo, with a large following on X, predicts a significant rally for Dogecoin, the largest memecoin by market cap. He forecasts that the “real” rally for Dogecoin will likely start late next year and could result in rallies of up to 162% from its current level.
Kaleo outlines his playbook for DOGE, expecting a fast move upward to somewhere in the $0.90 – $0.10 range, followed by a chop and another daily to approximately $0.15. He sees potential for a 1,900% rally against Bitcoin after potentially bottoming out in April of 2024.
Kaleo’s Analysis of Bitcoin
Kaleo also shares insights into Bitcoin’s current state, likening it to the price behavior months after the 2020 halving. If Bitcoin breaks above a price last recorded in May of 2022, he believes it could rally similarly to the post-2020 halving period.
Current Prices
At the time of writing, Dogecoin is trading at $0.0763, while Bitcoin is trading at $36,621, up by over 30% in a month.
Hot Take
A widely followed analyst is optimistic about the largest memecoin by market cap as the crypto markets explode.
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