Popular crypto analyst Kaleo believes the popular memecoin Dogecoin (DOGE) is not far from having its moment. Kaleo is a closely followed crypto trader, with more than 571,100 followers on Twitter, and he recently stated that the Dogecoin chart looks primed for an upside burst. DOGE is currently trading around $0.775, slightly above the trader’s diagonal resistance at $0.765, and Kaleo has advised to enter the market when the coin is “boring” like it is now.

Kaleo is also sharing his short-term outlook on Bitcoin (BTC), predicting that BTC will take out multiple resistances on the lower timeframe and rally above $30,000. Such a scenario seems likely given its current price at $28,632. The analyst has also suggested that traders plan on rotating quickly back into Bitcoin once Dogecoin sees a “decent squeeze”.

Dogecoin is a high-risk meme coin that has experienced several high profile pumps even though it has yet to significantly appreciate. However, analysts such as Kaleo feel that could change soon and with Dogecoin’s passionate fanbase it could be the latest coin to jump the charts.

It’s also worth noting that Dogecoin is arguably more accessible than other coins given its low value, which makes it easier to buy in large amounts and take part in pumps. Kaleo has advised people to move quickly when Dogecoin starts to see some momentum, since when the coin moves it usually happens all at once.

Dogecoin has become an unlikely favorite in the crypto community and its recent performance has sparked plenty of interest from traders. There’s no telling how long the rally will last, but Dogecoin looks like it could be an interesting coin to watch in the markets for the near future.



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