The post Dogecoin To Moon – Analyst Predicts 100% Spike In DOGE Price appeared first on Coinpedia Fintech News
Prominent crypto analyst Kaleo has caught the attention of investors with an intriguing forecast for Dogecoin (DOGE). Known for his extensive Twitter following of 593,600 followers, Kaleo has highlighted the potential for a significant breakout in the popular meme coin.
Potential Breakout for Dogecoin (DOGE)
$DOGE breaking out vs USD as well as BTC pic.twitter.com/D7SCF1cDDY— K A L E O (@CryptoKaleo) July 15, 2023
By closely examining the charts, Kaleo suggests that Dogecoin is on the verge of surpassing its bear market resistance, which could trigger a powerful rally. If this surge occurs, DOGE could reach levels not seen since November 2022, a time that marked the height of the previous crypto bull market.
Specifically, Kaleo points out that Dogecoin has the potential to surpass $0.16, representing a potential increase of more than 130% from its current price of $0.069. This has generated considerable excitement among investors and supporters of the meme-inspired cryptocurrency.
Explaining his stance on the potential surge against the US dollar, Kaleo manifested that Dogecoin’s performance against Bitcoin (DOGE/BTC) has broken long-term diagonal resistance. Overall, this positive development further fuels optimism surrounding DOGE. The current exchange rate for the DOGE/BTC pair is 0.00000231 BTC ($0.070).
Buy the Dip, BTC in its accumulation Phase
#Bitcoin / $BTC— K A L E O (@CryptoKaleo) July 12, 2023
The longer we've distributed in the $30K range, the less likely an immediate move higher looks.
I've seen several tweets about DOJ seized BTC on the move as well. Would love another opportunity to stack on the dip to the 200 EMA on the daily if we get it. pic.twitter.com/5t0UNjUAiJ
But Kaleo’s insights extend beyond Dogecoin, as he also assesses the outlook for Bitcoin (BTC). Based on his analysis, Kaleo suggests that Bitcoin’s extended consolidation above $30,000 may indicate a forthcoming downward movement.
He mentions speculation circulating about the US Department of Justice potentially seizing Bitcoin during a rally. Kaleo expresses a desire to accumulate more Bitcoin should an opportunity arise to purchase at a lower price point, such as around $26,000. The current value of one bitcoin is $30,264.
As always, the Bitcoin market is turbulent and unpredictable. Kaleo’s predictions are exciting, but the conclusion is unknown. Investors and crypto enthusiasts eagerly watch to see if Dogecoin may break through and Bitcoin will fall. But Kaleo’s analysis has reignited the crypto community’s excitement and curiosity.
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