A widely followed analyst and trader believes Dogecoin (DOGE) could rally by triple-digit percentage points.
Pseudonymous analyst Kaleo tells his 572,800 Twitter followers that the $0.25 price is a “magnet” for Dogecoin.
The flagship meme coin, which is trading at $0.098 at time of writing, would need to appreciate by around 155% from current levels to hit Kaleo’s target.
“DOGE/Dogecoin
25 cents is a magnet.”
And in an attached chart of Dogecoin against the US dollar, Kaleo seems to be suggesting that the leading meme coin is likely to find stiff resistance upon hitting the $0.25 target and retrace to just above $0.1350.
According to the widely followed analyst and trader, Elon Musk could be the catalyst that drives Dogecoin’s rally as April 20 (4/20), a number and date the world’s second-richest person has regularly made a meme theme out of, approaches.
“I’ll be surprised if DOGE doesn’t run higher through the meme holiday of 4/20.
When Elon starts talking about Dogecoin, it usually doesn’t happen in isolated events.
He has another meme up his sleeve. It’s just a matter of when he breaks it out.
Ten cents and under is free.”
Earlier this week, a Dogecoin rally of over 30% coincided with Musk changing Twitter’s bird logo to an image of the Shiba Inu dog which is the face of the DOGE crypto asset.
Musk is currently challenging a $258 billion lawsuit from a group of investors who allege that the billionaire hyped up the price of Dogecoin by 36,000% to an all-time high of just below 75 cents before it crashed to under 10 cents.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Foryoui3/Lemonade Serenade
The post Dogecoin (DOGE) Will Explode by Over 150%, According to Popular Crypto Analyst appeared first on The Daily Hodl.
