A broadly adopted crypto analyst is predicting that Elon Musk will spark an enormous Dogecoin (DOGE) transfer after he completes a rebrand of Twitter.
Pseudonymous analyst Kaleo tells his 594,000 Twitter followers that he believes Musk will quickly combine Dogecoin into the favored microblogging platform.
Kaleo predicts within the subsequent a number of weeks, Elon Musk will announce plans for some kind of integration of DOGE into the social media platform, echoing similar rumors from earlier this yr.
“If I needed to guess, Elon takes one other few days, possibly even one other few weeks to truly say how he plans on integrating DOGE into X. I feel there’s a strong likelihood he really does one thing this time although, and him together with it in his bio concurrently the X rebrand isn’t only a coincidence.”
Kaleo additionally says that the Dogecoin towards Bitcoin (DOGE/BTC) chart seems bullish after a breakout by way of an extended downward resistance. Within the shorter time period, he says that Dogecoin will seemingly quickly see a small market correction earlier than it resumes an upward pattern.
“Within the meantime, Dogecoin cools off a bit and catches up with the blood we’re seeing throughout the remainder of the market. Why? Individuals are impatient and so they need instant outcomes. Rumors and hope solely holds up for therefore lengthy in a bear market.
So, I feel it’s a fairly strong transfer to proceed to build up on any dips we get from right here. The charts proceed to look nice, and may even after a minor correction.
Simply gotta be a bit affected person.”
Kaleo predicts that DOGE will ultimately reclaim the $0.10 degree and past.
“I’ve been encouraging accumulating DOGE on this vary for months now. I nonetheless assume it’s a very good place so as to add. By the point it lastly has its transfer again to $0.10-plus, it’ll occur quick, and the complete timeline will say it was apparent looking back.”
Dogecoin is buying and selling for $0.0774 at time of writing, up 4.9% over the past 24 hours.
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