- Analysts have come out strong, predicting a massive surge for Dogecoin with a potential price surge of up to 1,500%.
- According to crypto analyst Kaleo, historical patterns and the current market cycle suggest a significant rally could occur between December and February.
The Dogecoin community has exhibited fortitude with predictions of an oncoming bull run. A crypto analyst recently shared a bullish prediction for the meme-themed coin.
According to a publicly known crypto analyst, Kaleo has predicted that DOGE could significantly surge by as much as 1,500% from its current price. With a following of over 642,200 on X, Kaleo asserted that Dogecoin is posed for a significant surge, notably projecting a potential increase of between 700% and 1,500%.
For those of you who say DOGE is boring – for the most part, you’re right.
It’s spent ~9.5 years of its existence trending sideways or down. The other 1 year? It had one run that pumped ~6000% from the lows and another that pumped more than 30,000%.
The… pic.twitter.com/523tqCMBdC
— K A L E O (@CryptoKaleo) June 25, 2024
Kaleo’s significant bullish outlook stems from what he terms as the “meme coin supercycle” According to the crypto analyst, we are still in the meme coin supercycle therefore posing Dogecoin for a significant surge.
Aligning with historical trends that depict that Dogecoin could reach between $1 and $2, Kaleo believes that Dogecoin’s big rally is likely to occur in the near future. Particularly highlighting that the significant rally could occur by December or February.
At the time of writing, Dogecoin is exchanging hands at $0.4773 marking a 1.28% price surge in the last 24 hours.
In relation to the major price rally, Kaleo pinpointed previous Dogecoin rallies, which ordinarily began around eight to nine months after a Bitcoin halving event. Since the most recent Bitcoin halving occurred only two months ago, it is therefore fair that the December-February time frame breakout would be expected.
Despite Kaleo’s future bullish outlook, the crypto analyst cautioned that Dogecoin could experience a short-term dip before the anticipated rally. He suggested that Dogecoin could down surge by up to 36%, falling back to the 8-10 cent range. This potential dip would mirror a similar trend break observed in August 2020, just before Dogecoin’s significant surge.
Supporting Kaleo’s bullish outlook, another crypto analyst widely known as, Trader Tardigrade, has also kicked in with a bullish prediction for Dogecoin. Tardigrade predicts a “god candle” that could send DOGE soaring to a staggering $7.50.
Additionally, Not all analysts share the bullish enthusiasm. Crypto analyst Kevin, formerly known as Yomi OG, highlighted some bearish signs. He pointed out that Dogecoin has lost all of its daily moving averages, which he considered a negative indicator in the short term. Additionally, Kevin noted a lackluster bounce after DOGE dipped to the $0.11 level.
In conclusion, the forecast for Dogecoin remains highly bullish, with analysts predicting a potential surge of up to 1,500%. While short-term volatility is expected, pointing out historical patterns and optimistic projections suggest that Dogecoin could experience a significant rally in the near future.
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