‘We’re in a Memecoin Supercycle’: Analyst Says Dogecoin Primed To Explode by up to 1,510%

According to a popular cryptocurrency analyst and trader, Dogecoin (DOGE) has the potential to reach a new all-time high in the current market cycle.

Known as Kaleo on social media platform X, the analyst with a following of 642,600 users suggests that Dogecoin is displaying similar price patterns to previous surges, indicating a possible increase of 706% to 1,512% from its current value.

“I still believe we’re in a meme coin supercycle and we’ll see DOGE soar to $1 – $2. History suggests that we have some time to prepare before it happens.”

The analyst predicts that Dogecoin may experience a temporary drop of up to 35% before its upward trajectory.

“Considering this, a retracement back to the $0.08 – $0.10 range is possible, retracing the February surge from around $0.075 to $0.23.”

The analyst’s optimism about Dogecoin stems from its past price behavior that preceded significant price hikes.

“For those who find DOGE uneventful, history shows otherwise.

It has spent most of its existence in a sideways or downward trend. However, it has had explosive runs, with one increasing by 6,000% from the lows and another by over 30,000%.

The current sideways movement post its last all-time high is comparable to previous periods before major rallies.

Each of these movements started about 8 to 9 months after a halving event before the price surged.”