Dogecoin Prepares for Breakout, DOGE Price Predicted Bullish to US$6

Famous crypto analyst Kevin, also known as OG Yomi, has identified a promising bullish pattern on the Dogecoin (DOGE) chart. He indicates that the breakout is very close. His prediction emerges amid significant accumulation of DOGE by whales, believed to drive the long-awaited breakout.

Dogecoin Indicators Show Breakout Signals

According to reports from Bitcoinist, Kevin highlights that the two-month Bollinger Bands indicator for Dogecoin is signaling an imminent breakout. This marks the first such signal for the meme coin since November 2020. Additionally, Kevin notes that DOGE will experience a bullish cross on the two-month MACD for the first time since the same period. This indicator is considered a strong predictor of upward price movement, further bolstering his bullish view.

Kevin expresses strong confidence that this breakout is inevitable. Another renowned crypto analyst, Kaleo, echoes this sentiment. In a recent post on X, Kaleo states that Dogecoin is poised to move parabolically upwards, even predicting that DOGE could outpace Bitcoin in the current bull run.

Also Read: ETF Ethereum Spot AS: Research Predicts Inflow of US$4 Billion in First 5 Months.

Historical Predictions and Whale Activity

Kevin's optimism is not new. In April, he predicted that Dogecoin could outperform Bitcoin during this market cycle if it maintains its momentum. He even suggested that DOGE could reach as high as US$3, based on historical patterns. Such a surge would significantly elevate DOGE from its current status and potentially surpass Bitcoin.

The recent surge in DOGE price can be attributed to large purchases by Dogecoin whales. In just the past week, these large investors have bought over 900 million DOGE, which may contribute to the anticipated breakout.

Also Read: Bitcoin Price Could Surge to US$75,000 in June 2024.

Analysts Predict DOGE Price Surge

Furthermore, crypto analyst Ali Martinez also sees a bright future for Dogecoin. She recently indicated that market sentiment for DOGE is as bearish as it was in early February, just before its price surged by 200 percent. Martinez believes DOGE could rise to US$6 in this bull run, noting that the current unimpressive price action is typical behavior before a major bull run.

On the more ambitious end of the spectrum, analyst Javon Marks has suggested that Dogecoin could reach US$10. He highlights breakout trends indicating that DOGE may be heading towards this price level. Marks even shares a chart showing that DOGE could rise as high as US$16. He refers to Dogecoin's performance pattern, which has seen increases in each subsequent bull run.

Also Read: Pepe Coin: Nascent Venture Company Withdraws 447.6 Billion PEPE from Binance.

Marks believes that this upcoming bull run will be no different, with DOGE surpassing a rally of over 20,000 percent in the 2021 bull run. Let's watch and see.

Publisher: Riswanda Nurrohman
Source: https://blockchainmedia.id/dogecoin-bersiap-breakout-harga-doge-akan-meroket-ke-us6/