A widely followed crypto analyst, top meme coin dogecoin(DOGE) is ready to witness a parabolic surge.
The analyst, nicknamed Kaleo, tells his 593,600 Twitter followers that his Shiba Inu (SHIB) rival may launch into a massive rally after breaking bear market resistance.
According to Kaleo, this breakout made Dogecoin last seen in November 2022 and crypto- may send it to a level that marks the end of the bull market.
DOGE is breaking against USD as well as BTC.
NEWS CONTINUES BELOW
Looking at Kaleo’s chart, it seems to suggest that DOGE will experience a sharp rise above $0.16, potentially an increase of more than 130% from its current price of $0.069.
The crypto trader adds that the DOGE and Bitcoin (DOGE/BTC) pair also broke above the long-term diagonal resistance.
“YOOOO STARTED.
At the time of this writing, DOGE/BTC is trading for 0.00000231 BTC ($0.070).
bitcoinLooking at itself, Kaleo says that BTC’s prolonged consolidation above $30,000 indicates that the crypto king is heading for a sharp move to the downside.
The longer we scatter in the $30,000 range, the less likely a spike seems to be possible. I’ve seen several tweets about DOJ (US Department of Justice) seizure of BTC on the go. I’d love another opportunity to stack on the drop to the 200 daily EMA (exponential moving average), if we get it.
Based on Kaleo’s chart, he believes that Bitcoin could revisit the $26,000 price level before retracing its current trading range.
At the time of this writing, BTC is worth $30,264.