Crypto analyst Kevin (Previously OG Yomi) has highlighted a bullish sample on the Dogecoin (DOGE) chart, which exhibits {that a} breakout is imminent. His prediction follows the current wave of accumulation by DOGE whales, with these buys seemingly contributing to the potential breakout.
Dogecoin Indicator Flashing Breakout Sign
Kevin talked about in an X (previously Twitter) post that the two-month Bollinger Bands breakout indicator on Dogecoin is flashing an imminent breakout, which is about to happen for the foremost meme coin for the primary time since November 2020.
He added that DOGE was additionally about to see the primary two-month Moving Average Convergence/Divergence (MACD) bullish cross since November 2020.
The analyst sounded assured about this imminent breakout, suggesting it was inevitable. Crypto analyst Kaleo additionally shared the same sentiment, claiming in a current X post that Dogecoin appears to be like prepared for that parabolic transfer to the upside. Crypto Kaleo is so bullish on Dogecoin that he predicted that the meme coin will outperform Bitcoin on this bull run.
Kevin had additionally made the same prediction earlier in April, claiming that Dogecoin might outperform Bitcoin on this market cycle if it continues to carry up nicely. The analyst had additionally previously predicted that DOGE might rise to as excessive as $3 primarily based on historic patterns. A worth surge of such magnitude will virtually definitely out the meme coin above the flagship crypto.
In the meantime, DOGE’s imminent breakout might be triggered by current purchases made by Dogecoin whales. These traders have purchased over 900 million DOGE within the final seven days. Crypto analyst Ali Martinez additionally not too long ago urged that Dogecoin’s worth may skyrocket quickly sufficient.
He talked about that DOGE’s market sentiment was as bearish because it was in early February, simply earlier than its worth skyrocketed by 200%. Apparently, Martinez believes that Dogecoin might rise to as excessive as $6 in this bull run. He had additionally famous that DOGE’s present unimpressive worth motion was a part of its “typical conduct” earlier than huge bull runs.
DOGE Would possibly Attain $10 In This Market Cycle
Crypto analyst Javon Marks has supplied a extra bold worth prediction than Martinez’s. He raised the potential for Dogecoin rising to $10, highlighting a breakout development that implies that the meme coin could quickly be on its method to this worth degree. Apparently, the chart he shared confirmed that DOGE might even rise to as excessive as $16.
Marks was referring to the breakout trend wherein Dogecoin’s run has frequently elevated in each subsequent bull run. As such, he believes this upcoming bull run gained’t be completely different, with DOGE surpassing its rally of over 20,000% within the 2021 bull run this time round.
On the time of writing, Dogecoin is buying and selling at round $0.16, down within the final 24 hours, in keeping with data from CoinMarketCap.
