- Crypto analyst Crypto Kaleo has laid out a bullish narrative for Dogecoin (DOGE).
- Based on his analysis, the foremost meme coin may make a parabolic run to the upside soon enough.
- “It’s almost time for Dogecoin to rally significantly,” remarked Kaleo.
This article explores the potential upcoming surge in Dogecoin’s value, as predicted by prominent crypto analysts.
“It’s Almost Time” For A Good Dogecoin Pump
Crypto Kaleo, in a recent post on X (formerly Twitter), indicated that Dogecoin is “overdue for a good pump.” He drew parallels between the upcoming potential rally and the GameStop surge in early 2021, suggesting that Dogecoin might follow a similar trajectory post-GME’s peak performance.
Historical Correlations and Future Predictions
The GameStop short squeeze early in the year led to a significant increase in the prices of meme coins like Dogecoin and Shiba Inu. Kaleo’s analysis suggests that the DOGE/BTC ratio is primed for a move higher, hinting at an impending price surge. He advised investors that the rally might require a bit of patience, possibly a few days or even weeks, as the market conditions align similar to those before the 2021 pump.
A DOGE Breakout Is Near
Further supporting the bullish sentiment, World of Charts, another crypto analyst, noted that Dogecoin is on the cusp of a breakout. A successful breakout could potentially double its current price to $0.3. Echoing these sentiments, analyst Jaydee highlighted the promising patterns on DOGE’s monthly chart, suggesting that a breakout could be imminent and possibly life-changing for some investors.
Market Reactions and Current Trading Status
Despite the optimistic predictions, Dogecoin currently trades at around $0.15, experiencing a slight decline over the last 24 hours. This dip, as Kaleo mentioned, might be necessary before the significant rally, similar to the pattern observed in 2021 before Dogecoin’s major price increase.
Conclusion
The anticipation of a Dogecoin rally is high among crypto analysts, with multiple indicators suggesting a potential breakout similar to historical precedents. Investors are advised to watch the market closely, as the meme coin could see significant movements in the coming weeks.
