crypto Analyst crypto Kaleo has presented a bullish narrative for Dogecoin (DOGE)revealing how well the biggest meme coin could perform in bitcoin-bull-market-glassnode/” rel=”nofollow”>this lockdown. He also suggested that there was no need to worry about Dogecoin's current price action, which paints a bearish outlook for the meme coin.
Dogecoin will outperform bitcoin in this market cycle
crypto Kaleo mentioned in an x (formerly twitter) x.com/CryptoKaleo/status/1797448650987122787″ rel=”nofollow”>mail who has “incredibly high conviction” that Dogecoin will “outperform” bitcoin in bitcoin-bull-market-glassnode/” rel=”nofollow”>this market cycle. He made this statement while revealing that he is also bullish on the flagship cryptocurrency. Given the high bitcoin expected to rise In this bull run, this certainly paints an ultra-bullish narrative for the top meme coin.
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From the chart he shared, crypto Kaleo predicts that Dogecoin could rise more than 200% against its bitcoin peer and reach as high as $0.55. He is convinced that Dogecoin can achieve that goal because he claims that the market is in a “super cycle meme.”For this reason, he stressed that the “king of memes will not be left behind.”
Despite this being a meme supercycle as claimed by crypto Kaleo, the price of Dogecoin has continued to lag behind other meme coins. However, the analyst suggested that DOGE current price action is normal, stating that the meme currency “moves sideways for prolonged periods, followed by rapid vertical growth.”
In a previous x post, analyst x.com/CryptoKaleo/status/1790872217535819969″ rel=”nofollow”>He suggested that this “rapid vertical growth” could occur once GameStop (GME) stock peaks. He drew a correlation between both assets and noted that Dogecoin price recovered in the 2021 bull run after GME peaked. He hopes something similar will happen this time, especially with Roaring Kitty Returns.
Meanwhile, crypto Kaleo is not the only one who believes Dogecoin can outperform bitcoin in this market cycle. Cryptoanalyst Don Alt also seems to have this belief, since crypto-pundit-predicts-price-surge-for-dogecoin/#:~:text=crypto%20Pundit%20Predicts%20Massive%20Price%20Surge%20For%20Dogecoin%20%E2%80%93%20Here’s%20The%20Target&text=crypto%20analyst%20DonAlt%20has%20provided,from%20its%20current%20price%20levels.” rel=”nofollow”>previously suggested that Dogecoin was a better investment than bitcoin based on his claim that Dogecoin can go up to $2 in this bull run.
DOGE to go parabolic later this year
crypto Analyst Altcoin Sherpa It has also offered a bullish narrative for Dogecoin. In a recent x.com/AltcoinSherpa/status/1797598564283199514″ rel=”nofollow”>x publication, claimed that the top meme coin is “going to do something stupid later this year,” suggesting that a parabolic rise is on the horizon for Dogecoin. He added that Dogecoin remains one of the “safer operations” anyone can do in this cycle.
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He also seems to believe that Dogecoin can outperform bitcoin this cycle, noting in another x.com/AltcoinSherpa/status/1797970126656119194″ rel=”nofollow”>x publication that Dogecoin was one of the few ethereum-breakout/” rel=”nofollow”>alternative currencies that rose and remained above its bitcoin peer in the 2021 bull run. He added that these altcoins “are for this cycle” and that cryptocurrency investors should keep this in mind.
Featured image created with Dall.E, chart from Tradingview.com
