We’re Still in a “Memecoin Supercycle” – Dogecoin Will Surge by 1,500%, According to an Analyst

A renowned analyst and crypto trader shared his bullish enthusiasm for Dogecoin (DOGE).

Kaleo shared with his followers that Dogecoin could appreciate 700% to 1,500% from its current price. He stated:

“I still believe we are in a meme coin supercycle and we will see DOGE shoot up to $1 – $2. History just says we probably have a little time to prepare for that before it happens.”

At the time of writing, the price of Dogecoin is $0.126.

As for the timing of Dogecoin’s potential rally, Kaleo explained,

“Each of these previous Dogecoin rallies took approximately eight to nine months after the Bitcoin halving event before it shot up. We’re now only two months after the last halving. Given that, it would actually be more appropriate for the trend for the real breakout to not happen until December-February.”

However, the analyst cautioned that Dogecoin could drop by up to 36% before the expected rally.

“With that in mind, I wouldn’t be surprised to see the current trend break back down to the $0.08 to $0.10 range and return to the February move from around $0.09 to $0.22 that we saw. A similar pattern break with approximately 30% downside occurred in August 2020, a few months before the DOGE mass distribution began,” he noted.