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)
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).
Also Read: Dogecoin (DOGE) & Cardano (ADA) are Testing Crucial Levels; Will They Explode with a 100% Jump?
Buy the Dip, BTC in its accumulation Phase
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.
