A widely followed crypto analyst says that the bottom is in for Dogecoin (DOGE) while predicting a big move to the upside.
Pseudonymous analyst Kaleo tells his 575,900 Twitter followers that the dog-themed meme token could see an approximate 15% price increase from its current value.
[adinserter block="1"]Says Kaleo,
“DOGE is waking up.”
The crypto trader says that Dogecoin hit a bottom price on Wednesday at the $0.0815 level.
“This was the bottom btw (by the way).”
His chart shows DOGE breaking to the upside out of a descending triangle pattern suggesting a bullish reversal trend. He is predicting a big bounce from the $0.0815 level.
“Looks primed for a quick bounce from here though.”
He says Dogecoin is on the verge of crossing into the $0.100 level if it can break out of the descending trendline resistance level of $0.0873.
“Break above the line, and accelerate back to ten cents with haste.”
Earlier this month, DOGE surged more than 30% to cross into the $0.10 level when Dogcoin’s most famous supporter, tech billionaire Elon Musk, changed Twitter’s icon to the DOGE logo.
However, that DOGE surge was short-lived. When Musk later reverted Twitter’s logo back to its iconic blue bird just a few days later, the meme token gave up its gains.
Dogecoin is trading for $0.0870 at time of writing, up nearly 6% in the past 24 hours. DOGE is currently the eighth-largest cryptocurrency by market cap.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fariza Abdurrazaq/MrArtHit
