The Dogecoin price is holding steady after clearing the resistance at the $0.076 level. However, even its current performance seems to fall behind that of other altcoins including Chainlink (LINK) and Solana (SOL). This leaves a lot of room for growth for the meme coin and one analyst has predicted when it might surge.
Dogecoin Surge Could Start In A Week Or Two
Crypto analyst Crypto Kaleo took to X (formerly Twitter) to share their analysis for the Dogecoin price. The post highlights a possible Dogecoin uptrend that could carry it above the $0.1 mark. Kale explains that this move might be fast given DOGE’s history of rapidly rallying, and it could start in a week or two.
At first, the analyst sees the Dogecoin price moving above the $0.-09-$0.1 level before a small roadblock. However, this is not expected to last as Kaleo sees another rally that brings the Dogecoin price above $0.15 once more.
Even after this, Kaleo does not believe the rally has ended, predicting even more upside for the digital asset. The peak of this expected rally is placed at the $0.2, where the analyst believes it ends. “As much as I’d love for it to go to $1+, I honestly don’t see it getting too much past twenty cents on this rally,” Kaleo stated.
As for confirmation for this rally, the analyst revealed that “I’m just looking for a touch of HTF resistance on the BTC pair around 550 sats (where I’m getting the 20 cents figure depending on what the price of Bitcoin is).”
DOGE price shows strength | Source: DOGEUSD on Tradingview.com
A DOGE Move Similar To 2021?
The crypto analyst, in a subsequent X post, revealed similarities for the current Dogecoin price trend compared to what was seen back in the 2021 bull market. The charts shared in the post show a similarly extended downtrend before an uptrend.
Kaleo also reveals that the DOGE price is also sitting at almost exactly the same level as it did back in 2021 before its big move up to $0.7. So if this current trend tracks with the previous one, DOGE could be readying for another massive breakout.
$DOGE is at nearly the exact same USD price it was when it started to giga-send in the Spring of 2021, price action before the breakout looks eerily similar too.
— K A L E O (@CryptoKaleo) November 9, 2023
On a more bullish note, Kaleo also points out that the Dogecoin satellite that billionaire Elon Musk announced in 2021 is set to head to the moon. The mission which Musk revealed was entirely paid for in Doge is a little over a month away from launch on December 24, 2024. In addition to being the first mission paid for in crypto, Musk also revealed that DOGE will be the first crypto and meme coin in space.