Crypto analyst Crypto Kaleo has laid out a bullish narrative for Dogecoin (DOGE), revealing how effectively the foremost meme coin might carry out in this bull run. He additionally recommended that there was no want to fret about Dogecoin’s present worth motion, which paints a bearish outlook for the meme coin.
Dogecoin Will Outpace Bitcoin In This Market Cycle
Crypto Kaleo talked about in an X (previously Twitter) post that he has “an insanely excessive conviction” that Dogecoin will “outpace” Bitcoin in this market cycle. He made this assertion whereas revealing that he’s additionally bullish on the flagship crypto. Given how excessive Bitcoin is expected to rise on this bull run, this undoubtedly paints an ultra-bullish narrative for the foremost meme coin.
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From the chart he shared, Crypto Kaleo predicts that Dogecoin might rise over 200% towards its Bitcoin pair and climb to as excessive as $0.55. He’s satisfied that Dogecoin could make such a run as a result of he claims the market is in a “meme super cycle.”As such, he remarked that the “king of memes received’t be left behind.”
Regardless of this being a meme tremendous cycle like Crypto Kaleo claims, Dogecoin’s worth has continued to lag in comparison with different meme cash. Nonetheless, the analyst recommended that DOGE’s current price action is regular, stating that the meme coin “strikes sideways for prolonged durations, adopted by fast vertical progress.”
In an earlier X put up, the analyst suggested that this “fast vertical progress” might occur as soon as GameStop’s (GME) inventory tops. He drew a correlation between each belongings, noting that Dogecoin’s worth rallied within the 2021 bull run after GME topped. He expects one thing just like occur this time, particularly with Roaring Kitty’s return.
In the meantime, Crypto Kaleo isn’t the one one who believes that Dogecoin can outperform Bitcoin on this market cycle. Crypto analyst Don Alt additionally appears to carry this perception as he previously suggested that Dogecoin was a greater funding than Bitcoin based mostly on his declare that Dogecoin can rise to as excessive as $2 on this bull run.
DOGE Going To Go Parabolic Later This Yr
Crypto analyst Altcoin Sherpa has additionally provided a bullish narrative for Dogecoin. In a current X post, he acknowledged that the foremost meme coin “goes to do one thing silly later this 12 months,” suggesting {that a} parabolic rise was on the horizon for Dogecoin. He added that Dogecoin remains to be one of many “safest trades” anybody could make on this cycle.
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He additionally appears to consider that Dogecoin can outperform Bitcoin on this cycle, noting in one other X post that Dogecoin was one of many few altcoins that elevated and held above their Bitcoin pair within the 2021 bull run. He added that these altcoins “are for this cycle” and that crypto traders ought to preserve this in thoughts.
Featured picture created with Dall.E, chart from Tradingview.com
