This Analyst Predicts a Massive Bull Run for Dogecoin

Popular analyst Kaleo shares with his more than 590,000 followers on Twitter that Dogecoin is on the verge of a massive breakout. Recently, the memecoin managed to break through the resistance line, which it has been hitting throughout the entire bear market. According to Kaleo, that breakout could push the Dogecoin price up to November 2022 levels.

Kaleo’s prophecy. Source: Twitter

Kaleo’s expectations

Based on his chart, Kaleo appears to be predicting a Dogecoin price of $0.16. That would represent an increase of about 130 percent from current prices. However, this is still quite far from the all-time high, which is $ 0.731578.

That course was reached at a time when Elon Musk was still giving enormous attention to the project. Furthermore, we were of course in the middle of a gigantic bull run at that time, the bull run that eventually also lifted the Bitcoin price to $ 69,000.

Kaleo also reports that Dogecoin is also breaking out against Bitcoin. It has been on a similar downtrend against Bitcoin for the past few months.

Decline for Bitcoin?

As far as Bitcoin is concerned, Kaleo is a bit less positive at the moment. After a long period of consolidation above USD 30,000, Bitcoin is due for a sharp decline, according to Kaleo.

“The longer we stay in the $30,000 range, the less likely an immediate upward move is,” Kaleo said.

Based on his chart, Kaleo seems to suggest a price drop to the $26,000 level. After that, Bitcoin would climb back up to the current range.

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Kaleo would then also likely use that drop to enter cheaper and “take advantage” of any dip that may come for the market’s largest digital coin.

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