Dogecoin: Is the Memecoin Set to Cross the $0.10 Threshold?
Dogecoin (DOGE) is gaining attention from crypto enthusiasts once again as the digital currency seems to be experiencing a surge in value.
Kaleo, a well-known crypto analyst with a large Twitter following, has predicted that the bottom has been reached for DOGE and is expecting a significant move to the upside.
This was the bottom btw https://t.co/g6ZU4TINMU
— K A L E O (@CryptoKaleo) April 13, 2023
According to Kaleo, DOGE recently hit a bottom price of $0.0815 on Wednesday, which he believes is the lowest point the currency will reach before experiencing a rise in value.
He predicts a big bounce from the $0.0815 level, saying that the currency is “primed for a quick bounce from here.” His chart shows that DOGE is breaking out of a descending triangle pattern, which is typically a bullish reversal trend.
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If DOGE can break out of the descending trendline resistance level of $0.0873, Kaleo believes that it will be on the verge of crossing into the $0.100 level.
Break above the line, and accelerate back to ten cents with haste 🤝
Long with me here ➡️ https://t.co/32dHnZIFxS pic.twitter.com/pDp42JtoiW
— K A L E O (@CryptoKaleo) April 13, 2023
This prediction comes after DOGE surged over 30% earlier this month when Elon Musk changed his Twitter icon to the DOGE logo.
However, the surge was short-lived, and the currency lost its gains when Musk changed his icon back to the blue bird.
Despite this setback, DOGE is currently trading at $0.0863, up more than 5% in the past seven days. The digital currency is currently the eighth-largest cryptocurrency by market cap, indicating that it still has a significant following among crypto enthusiasts.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
