A well-known crypto analyst has made a bold prediction about the future of Dogecoin (DOGE), stating that it will experience a sudden surge in value while other memecoins are also seeing significant gains.
Kaleo, a trader who goes by a pseudonym, shared his thoughts with his large following of 641,400 on the social media platform X. He believes that DOGE could potentially increase by over 220% against Bitcoin (DOGE/BTC).
According to Kaleo, Dogecoin has a unique pattern of moving sideways for extended periods before experiencing rapid, vertical growth. Despite his bullish outlook on Bitcoin, he has an extremely strong conviction that DOGE will outperform it. He believes that the current market is in a “meme super cycle,” and Dogecoin, being the king of memes, will not be left behind.
By analyzing a four-hour chart, Kaleo suggests that DOGE could rally to 0.000008 BTC, which is equivalent to $0.55. At the time of writing, DOGE is trading at $0.159.
Moving on to another memecoin, Kaleo predicts that Coq Inu (COQ), which runs on the Avalanche (AVAX) network, is on the verge of a bullish reversal and will see significant gains against Wrapped AVAX (COQ/WAVAX).
Expressing his optimism, Kaleo states that it is now AVAX’s turn to have a run in the meme market. He believes that COQ is a meme with a market cap of $200 million, despite its meme status being worth over $1 billion. He encourages his followers to invest in COQ, stating, “Send it with haste.”
After examining the trader’s chart, it seems that COQ/WAVAX has the potential to surpass its diagonal resistance level soon. As of now, COQ is valued at $0.000003.
Lastly, Kaleo predicts that Bitcoin will soon reach six figures, representing a gain of over 44% from its current value. He refers to $100,000 as a “magnet” for the cryptocurrency.
At the time of writing, Bitcoin is trading at $69,130, showing a 2% increase in the past 24 hours.
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