Kaleo, a famous Cryptocurrency analyst, made an interesting prediction on Dogecoin (DOGE), which attracted investors' attention. Kaleo is known for having a wide following of 593600 followers on Twitter, emphasizing the potential for significant breakthroughs in popular meme coins
Kaleo, a famous Cryptocurrency analyst, made an interesting prediction on Dogecoin (DOGE), which attracted investors' attention. Kaleo is known for having a wide following of 593600 followers on Twitter, emphasizing the potential for significant breakthroughs in popular meme coins.
Potential breakthrough of Dogecoin
Through careful researchchartKaleo indicated that the Dogecoin is about to break through its bear market resistance, which may trigger a strong rebound. If this surge occurs, DOGE may reach the highest level since November 2022, which marked the height of the last bull market of Cryptocurrency.
Kaleo specifically pointed out that the Dogecoin is likely to exceed US $0.16, which is more than 130% higher than the current price of US $0.069. This has caused considerable excitement among investors and supporters of meme inspired Cryptocurrency.
When explaining his position on the potential surge of the US dollar exchange rate, Kaleo said that the performance of Dogecoin against Bitcoin (DOGE/BTC) has broken through the long-term diagonal resistance level. Overall, this positive development has further stimulated people's optimism towards DOGE. The current exchange rate for the DOGE/BTC currency pair is 0.00000231BTC (0.070 US dollars).
Buy on dips, BTC is in the accumulation stage
But Kaleo's opinion is not limited to Dogecoin, he also evaluated the prospects of Bitcoin (BTC). According to his analysis, Kaleo believes that the long-term consolidation of Bitcoin above $30000 may indicate an upcoming downward trend.
He mentioned speculation that the US Department of Justice may seize Bitcoin during the rally. Kaleo stated that if there is an opportunity to purchase Bitcoin at a lower price (such as around $26000), he hopes to accumulate more Bitcoin. The current value of a Bitcoin is $30264.
As always, the Bitcoin market is turbulent and unpredictable. Kaleo's prediction is exciting, but the conclusion is unknown. Investors and Cryptocurrency enthusiasts are keenly concerned about whether Dogecoin will break through and whether bitcoin will fall. But Kaleo's analysis reignited the excitement and curiosity of the crypto community.
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