Cryptocurrency analyst Crypto Kaleo made statements revealing his bullish expectations for Dogecoin (DOGE). Based on the analyst’s analysis, the leading meme coin in the market might soon experience an upward parabolic movement. The analyst reviewed the past to decide if this rally will happen and emphasized this point.
Will DOGE Price Rise?
In a recent X post, Crypto Kaleo highlighted that the time has come for Dogecoin to rise significantly, noting that DOGE, at the top of the meme coins, is overdue for this move. Kaleo commented on the DOGE and GME charts, reminding users that GameStop led the way in early 2021. He stated that Dogecoin’s price movement occurred after GME peaked.
Looking back, it is believed that the rise on the GameStop side initiated the meme coin era, triggering significant price increases for top meme coins like Dogecoin and Shiba Inu (SHIB). The analyst, noting the correlation between Dogecoin and GameStop, suggested that Dogecoin could also see a price rise because the “DOGE/BTC ratio has not yet made the expected move.”
Commenting on when the Dogecoin rally might occur, the analyst explained that investors might have to wait a few days or even a few weeks for Doge’s price movement to start. He attributed this to his view that GME has not yet reached its peak. Additionally, the analyst, who has had a long-term investment, stated that he is well-positioned for this move and will continue to accumulate the meme coin.
On the other hand, Kaleo mentioned that a DOGE price drop would not be surprising and could be necessary for the upcoming price rise.
Analysts’ DOGE Comments
Recently, World of Charts indicated that a new breakout could occur on the Dogecoin side. A successful breakout could raise DOGE to $0.3, representing a 100% price increase.
Crypto analyst Jaydee also highlighted DOGE’s monthly chart, making a similar statement and suggesting that a breakout could occur.
