A widely followed crypto analyst is predicting that Elon Musk will spark a big Dogecoin (DOGE) move after he completes a rebrand of Twitter.
Pseudonymous analyst Kaleo tells his 594,000 Twitter followers that he believes Musk will soon integrate Dogecoin into the popular microblogging platform.
[adinserter block="1"]Kaleo predicts in the next several weeks, Elon Musk will announce plans for some type of integration of DOGE into the social media platform, echoing similar rumors from earlier this year.
“If I had to guess, Elon takes another few days, maybe even another few weeks to actually say how he plans on integrating DOGE into X. I think there’s a solid chance he actually does something this time though, and him including it in his bio at the same time as the X rebrand isn’t just a coincidence.”
Kaleo also says that the Dogecoin against Bitcoin (DOGE/BTC) chart appears bullish after a breakout through a long downward resistance. In the shorter term, he says that Dogecoin will likely soon see a small market correction before it resumes an upward trend.
“In the meantime, Dogecoin cools off a bit and catches up with the blood we’re seeing across the rest of the market. Why? People are impatient and they want immediate results. Rumors and hope only holds up for so long in a bear market.
So, I think it’s a pretty solid move to continue to accumulate on any dips we get from here. The charts continue to look great, and should even after a minor correction.
Just gotta be a little patient.”
Kaleo predicts that DOGE will eventually reclaim the $0.10 level and beyond.
“I’ve been encouraging accumulating DOGE in this range for months now. I still think it’s a good place to add. By the time it finally has its move back to $0.10-plus, it’ll happen fast, and the entire timeline will say it was obvious in retrospect.”
Dogecoin is trading for $0.0774 at time of writing, up 4.9% during the last 24 hours.
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