Famous cryptocurrency expert, known as @CryptoKaleo on X, is keeping an eye on Dogecoin's upcoming breakout. The anonymous expert shared a price analysis chart on X on August 13, showing the similarities between the 2021 cycle and the current cycle.
@CryptoKaleo emphasizes that in January 2021, Dogecoin lost value after several months of accumulation in a descending range. However, this move led to a strong breakout, allowing the meme coin to surge over 8,000% and reach an all-time high (ATH) of $0.7376 on May 8, 2021.
The analyst argues that DOGE is ready to make a similar move as in January 2021, which he hopes will create the next major breakout.
Yes, the price trajectory of the meme coin since July 2021 has been nothing but a series of accumulations in a descending range followed by modest breakouts.
According to @CryptoKaleo, it is time for a spectacular breakout on the chart similar to what we witnessed in 2021.
The analyst argues that DOGE is ready to make a similar move as in January 2021, which he hopes will create the next major breakout. Yes, the price trajectory of the meme coin since July 2021 has been nothing but a series of accumulations in a descending range followed by modest breakouts. According to @CryptoKaleo, it is time for a spectacular breakout on the chart similar to what we witnessed in 2021.
Recent whale activity is also worth our attention. Another well-known analyst, known as @ali_charts on X, highlighted that DOGE whale activity recently reached a one-month high.
"Expect the holy candle to start from there," @CryptoKaleo added.
At the time of the press release, Dogecoin was trading at $0.2244. To achieve analysts' target of $6.9420, its value needs to increase over 3,000%.