A well-known cryptocurrency expert recently shared an analysis highlighting that the biggest meme cryptocurrency, Dogecoin (DOGE), is “about to rip.” Currently, DOGE is in an uptrend triggered after the recent market rally, with the memecoin increasing its price by 8.2% in the last seven days.
The pseudonymous analyst Kaleo highlighted in an analysis shared on May 17 the current upward movement of the memecoin Dogecoin (DOGE), highlighted his positive sentiment towards DOGE, emphasizing that the cryptocurrency will always be the “king of memes”.
In his analysis, the expert highlighted that Dogecoin “is not dead”, predicting that it will only be “a matter of time” for the largest memecoin to enter its upward trajectory. “GME/AMC showed us that retail is risky again. Over the past year in crypto, we have witnessed what the risk has been like for native participants as the memecoin market has exploded across the board,” he stated.
“$DOGE has always been and will always be the king of memes. All of retail is still familiar with that, and all of CT was built on that. It was the initial meme that allowed us to believe that all it took was a dog and a community to start a movement. Dogecoin is not dead. Once it starts to capture a move, it will move vertically again. CT is overwhelmed with options on the sidelines, and retail is eager for some of the same dopamine hit it just got from GME and AMC. It’s only a matter of time before that happens, and I refuse to sit on the sidelines when that happens,” he added.
GME / AMC showed us that retail has shifted back to being risk on.
Throughout the past year in crypto, we’ve witnessed how risk on native participants have been as the memecoin market has exploded across the board.$DOGE always has been and always will be the king of the memes.…
— K A L E O (@CryptoKaleo) May 17, 2024
At the time of publication, the price of Dogecoin was quoted at US$0.1553 with an increase of 1.4% in the last 24 hours.
Dogecoin (DOGE) ready for new macro uptrend
A well-known cryptocurrency expert recently shared an analysis highlighting that now is the time for the altcoin market to recover, highlighting that a giant memecoin could be the main beneficiary of this movement.
Pseudonymous analyst Rekt Capital highlighted in an analysis shared on May 5 the current bullish movement of the memecoin Dogecoin (DOGE), noting that the token has officially confirmed its macro bullish trend, suggesting that a DOGE rally may be on the horizon. “Dogecoin just turned multi-year resistance into new support. The macro downtrend is over. A new macro uptrend has been officially confirmed,” he wrote.
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Source: https://portalcripto.com.br/dogecoin-doge-esta-prestes-a-rasgar-analista-compartilha-previsao/
