Crypto analyst Kevin (formerly known as OG Yomi) has spotted a positive trend in Dogecoin (DOGE) charts, indicating that a breakout is near. He believes that the recent large purchases by DOGE whales are likely driving this upcoming breakout.
Kevin shared in a post on X (formerly Twitter) that Dogecoin’s two-month Bollinger Bands breakout indicator shows a breakout is about to happen. This is the first time since November 2020 that this indicator has signaled such a breakout for the popular meme coin.
Analysts Predict Imminent Dogecoin Breakout
Kevin mentioned in a post on X (formerly Twitter) that Dogecoin’s two-month Bollinger Bands breakout indicator shows a breakout is about to happen. This is the first time since November 2020 that this indicator has signaled such a breakout for the popular meme coin. He added that DOGE is also about to see its first two-month Moving Average Convergence/Divergence (MACD) bullish cross since November 2020. Kevin is confident about this imminent breakout, suggesting it is inevitable.
Source: X
Crypto analyst Kaleo shares a similar sentiment. In a recent X post, Kaleo claimed that Dogecoin looks ready for a parabolic move to the upside. Kaleo is so bullish on Dogecoin that he predicted the meme coin will outperform Bitcoin in this bull run. Kevin had made a similar prediction earlier in April, suggesting that if Dogecoin continues to hold up well, it could outperform Bitcoin in this market cycle. He had also predicted that DOGE could rise to as high as $3 based on historical patterns, which would place the meme coin above the flagship crypto.
Source: X
Meanwhile, the imminent breakout could be triggered by recent purchases made by Dogecoin whales. These investors have bought over 900 million DOGE in the last seven days. Crypto analyst Ali Martinez also recently suggested that Dogecoin’s price might skyrocket soon. He mentioned that DOGE’s market sentiment was as bearish as it was in early February, just before its price surged by 200%. Martinez believes that Dogecoin could rise to as high as $6 in this bull run, noting that DOGE’s current unimpressive price action is part of its “usual behavior” before massive bull runs.
Javon Marks Predicts Dogecoin Could Reach $10
Crypto analyst Javon Marks has offered a more ambitious price prediction for Dogecoin than Ali Martinez. Marks suggested that Dogecoin could rise to $10, pointing to a breakout trend that indicates the meme coin may soon reach this price level. Interestingly, the chart he shared showed that DOGE could even climb as high as $16.
Marks highlighted that Dogecoin’s performance has consistently improved with each bull run. He believes this upcoming bull run will be no different, with DOGE potentially surpassing its massive rally of over 20,000% during the 2021 bull run.
DOGE bears vie for control | Source: DOGEUSDT on Tradingview.com
As of now, Dogecoin is trading at around $0.16, having decreased in the last 24 hours, according to data from CoinMarketCap.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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