Crypto analyst Crypto Kaleo has laid out a bullish narrative for Dogecoin (DOGE), revealing how properly 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 price 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) submit that he has “an insanely high 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 predicted to rise on this bull run, this undoubtedly paints an ultra-bullish narrative for the foremost meme coin.
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 won’t be left behind.”
Regardless of this being a meme tremendous cycle like Crypto Kaleo claims, Dogecoin’s price has continued to lag in comparison with different meme cash. Nonetheless, the analyst recommended that DOGE’s present price motion is regular, stating that the meme coin “moves sideways for extended periods, followed by rapid vertical growth.”
In an earlier X submit, the analyst recommended that this “rapid vertical growth” might occur as soon as GameStop’s (GME) inventory tops. He drew a correlation between each belongings, noting that Dogecoin’s price 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 beforehand recommended that Dogecoin was a greater funding than Bitcoin primarily based on his declare that Dogecoin can rise to as excessive as $2 on this bull run.
DOGE Going To Go Parabolic Later This 12 months
Crypto analyst Altcoin Sherpa has additionally provided a bullish narrative for Dogecoin. In a current X submit, he acknowledged that the foremost meme coin “is going to do something stupid later this year,” suggesting {that a} parabolic rise was on the horizon for Dogecoin. He added that Dogecoin continues to be one of many “safest trades” anybody could make on this cycle.
He additionally appears to imagine that Dogecoin can outperform Bitcoin on this cycle, noting in one other X submit 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 maintain this in thoughts.
Featured picture created with Dall.E, chart from Tradingview.com