Key Point:
- Kaleo predicts Dogecoin’s surge, expecting a breakout from the current range.
- Chart analysis indicates a potential rally, with gains of over 12% by November 13th.
- The DOGE/BTC pair has broken out, supporting Kaleo’s bullish stance on Dogecoin.
A well-followed cryptocurrency strategist is optimistic about the prospects of the popular memecoin Dogecoin (DOGE), foreseeing a substantial upward movement.
Operating under the pseudonym Kaleo, the analyst shares with his 601,600 followers on the social media platform X his belief that DOGE is poised to replicate the impressive gains witnessed by other altcoins in recent days.
Kaleo suggests that DOGE might undergo a short-term consolidation phase before experiencing a significant surge.
“Take a look at how impressive the USD chart is. With altcoins gaining momentum, it’s hard for me to imagine Dogecoin won’t break out of its current range… There isn’t much change from last night for Dogecoin. I’m ready for a somewhat dull next few days before a potential strong move.”
Examining the analyst’s chart, it appears he envisions DOGE surpassing $0.083 by November 13th, indicating a more than 12% increase from the current prices in less than a week.
Kaleo attributes his optimistic outlook for Dogecoin to the performance of the Dogecoin versus Bitcoin (DOGE/BTC) chart. According to him, DOGE/BTC is currently trading above a year-long diagonal resistance.
“The DOGE/BTC pair has broken out.”
Analyzing the trader’s chart further, it seems he predicts that DOGE/BTC could ascend to as high as 0.00000550 BTC ($0.19). At the time of writing, the pair is trading at 0.00000209 BTC, equivalent to about $0.074.
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Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.
