It’s Almost Time For A Good Dogecoin Pump, Analyst Says

Crypto Analyst Predicts Bullish Dogecoin Rally

Crypto analyst Crypto Kaleo has outlined a bullish narrative for Dogecoin (DOGE). Based on his analysis, the foremost meme coin may embark on a parabolic run to the upside shortly. The analyst draws upon historical evidence to support his prediction.

"It's Almost Time" for a Dogecoin Pump

In a recent X (formerly Twitter) post, Crypto Kaleo remarked that it is almost time for Dogecoin to rally significantly, stating that the meme coin is "overdue for a good pump." He referenced a DOGE and GME chart, reminding his followers that GameStop "led the way back in early 2021." He claimed that Dogecoin only began pumping after GME reached its peak.

The GameStop short squeeze is widely credited with initiating the meme season, leading to substantial price surges for Dogecoin and other meme coins such as Shiba Inu (SHIB). In addition to Dogecoin's correlation with GameStop, the analyst suggests that Dogecoin is due for a pump because the "DOGE/BTC ratio still looks primed for a move higher."

Regarding the timing of the Dogecoin rally, Kaleo believes investors may have to "wait a few days, maybe a couple of weeks, for the Doge move to start" because he does not anticipate GME reaching its peak yet. He also revealed his bullish position, stating that he has "had a bag for ages" and intends to continue accumulating the meme coin.

A DOGE Breakout Is Imminent

Crypto analyst World of Charts recently observed that Dogecoin is on the verge of another breakout. According to his analysis, a successful breakout could result in a 100% move for the meme coin, potentially reaching $0.3. Crypto analyst Jaydee also expressed a similar sentiment, highlighting DOGE's monthly chart, which suggests that a breakout is imminent. Jaydee stated that "Dogecoin will be life-changing for some very soon."

Meme Coin Mania on the Horizon

Crypto analyst Crypto Scient predicts that a bullish reversal for DOGE could trigger a meme coin mania reminiscent of the one witnessed in February. If Kaleo's prediction holds true, this meme coin mania could resemble the events of 2021, when meme coins experienced significant price surges following GameStop's stock peak.

At the time of writing, Dogecoin is trading around $0.15, down over 3% in the last 24 hours, according to CoinMarketCap data.