Dogecoin Price Prediction: As Former Goldman Sachs Exec Says DOGE May Repeat Explosive XRP Pump, This New ICO Goes Parabolic

Dogecoin Poised for Breakout, Raoul Pal Predicts Upswing

The Dogecoin (DOGE) price has declined slightly by 0.5% over the past 24 hours, currently trading at $0.4159 as of 7:15 a.m. EST. However, this comes amidst a 6% surge in trading volume to $10.5 billion.

Bullish sentiment toward Dogecoin is growing, with former Goldman Sachs executive Raoul Pal sharing his bullish outlook on the market cap leader among meme coins.

Pal identified a wedge pattern on the monthly chart, suggesting that DOGE may experience substantial gains similar to the recent 377% surge in XRP. He shared this analysis with his 1.1 million followers, highlighting that a wedge pattern typically indicates a bullish breakout if the price surpasses the upper trendline.

Dogecoin Price Gears Up for Breakouts

The 4-hour price action for DOGE/USD exhibits a symmetrical triangle pattern, suggesting a consolidation period with narrowing price action. Currently at $0.4159, the price is approaching the apex of the triangle, signaling an imminent breakout.

Symmetrical triangles generally resolve in the direction of the prevailing trend. As DOGE has been in an uptrend, a bullish breakout is likely. If this occurs, the price could reach $0.45, potentially representing a 7-8% increase. Conversely, a breakdown below the lower trendline could lead to a decline toward $0.33.

The Relative Strength Index (RSI) stands at 48.28, close to the neutral zone. This suggests that the market is neither overbought nor oversold. A breakout could indicate further upward movement.

Additionally, the price remains above both the 50-period (green line) and 200-period (blue line) moving averages, reinforcing a bullish long-term trend for Dogecoin. The 50-period moving average has provided consistent support, bolstering the likelihood of upward momentum.

While the chart doesn't display volume explicitly, a breakout is typically accompanied by increased trading activity. A spike in volume would confirm the breakout's direction. Traders should monitor a move above the triangle's upper trendline for confirmation of bullish momentum, targeting $0.45.

In contrast, a break below the lower trendline would invalidate the bullish outlook and potentially lead to a downside move toward $0.33. The overall setup suggests that Dogecoin is primed for significant movement, fueled by the broader crypto market's bullish sentiment.

Crypto All-Stars Presale Nears $9 Million, Less Than 16 Days Remaining

Investors seeking diversity in their portfolios may consider Crypto All-Stars (STARS), which has raised over $8.4 million in its presale.

Claybro, a prominent crypto YouTuber with over 130K subscribers, predicts a potential 10X surge for STARS after its launch.

Crypto All-Stars differentiates itself with its groundbreaking MemeVault protocol, enabling users to stake multiple meme coins in one location. This innovation simplifies and streamlines growth opportunities for meme coin investors.

Initially, the platform will support staking for popular meme coins like Dogecoin, Shiba Inu, and others. It plans to expand its offering to meet the growing demand in the meme coin market.

Investors can also stake their STARS tokens for an impressive 325% annual percentage yield (APY).

The STARS presale concludes in less than 16 days. Tokens are currently available for purchase at $0.0016782 each using BNB, USDT, or a bank card.