Crypto analyst Kaleo predicts a potential surge in Dogecoin （DOGE） prices, drawing parallels with historical price movements and current market conditions.
Points
- Kaleo predicts DOGE could rise to between $1 and $2.
- Potential 35% dip before a substantial upward movement.
- DOGE has a history of explosive growth following periods of stagnation.
- Current price trading around $0.1333 after a 9.92% increase.
- Market cap of nearly $20 billion, with positive weekly performance.
The well-known crypto analyst Kaleo has shared a bullish outlook for Dogecoin （DOGE）, suggesting that the memecoin could rise to between $1 and $2. According to Kaleo, DOGE might experience a 35% dip before embarking on a substantial upward movement. He forecasts a temporary pullback to around $0.08 – $0.10 before the price rally commences.
Kaleo emphasizes the importance of historical price movements and their parallels with the current market cap. DOGE’s past has seen long periods of stagnation followed by explosive growth, with increases of up to 30,000% from its lowest points. The analyst notes that DOGE has spent nearly a decade in sideways or downward trends, paralleling current conditions, which might indicate an impending upward surge.
Currently, Dogecoin’s price is
trading around $0.1333 following a 9.92% increase in the last 24 hours. Despite a neutral one-hour price movement, DOGE has shown a positive 6.73% change over the past week. The market cap of DOGE has almost touched $20 billion again, although trading volume has decreased to $780 million.
Kaleo’s analysis suggests that if DOGE follows its historical patterns, investors could see significant returns after the anticipated dip. He advises caution, noting that the dip could test the patience of investors but ultimately lead to substantial gains.
解説
- Memecoin: A type of cryptocurrency inspired by internet memes or parodies, often characterized by high volatility and speculative trading.
- Market Cap: The total market value of a cryptocurrency’s circulating supply, calculated by multiplying the current price by the total supply.
- Sideways Trend: A market condition where the price of an asset remains within a horizontal range, showing no clear upward or downward movement.
Investors should keep an eye on key support and resistance levels, as well as market sentiment, to navigate potential volatility. While the predictions are optimistic, it is essential to approach such investments with a well-informed strategy and an understanding of the inherent risks.