Dogecoin To Dash Towards $1? This Crypto Analyst Hardly Thinks So But Sees DOGE Surging 170% In Short Term

Pseudonymous crypto analyst Kaleo predicts Dogecoin DOGE/USD surging 170% to reach $0.20 levels, in the short term.

What Happened: Kaleo shared his playbook for DOGE, forecasting potential price movements in the coming weeks. 

He suggests that Dogecoin will finally experience a burst of activity, rising rapidly as it has historically done.  Kaleo expects DOGE to reach a range of 9 to 10 cents, followed by a period of consolidation, before possibly surging higher to around 15 cents.

"Here’s my playbook for DOGE. Sometime in the next week or two, Dogecoin finally starts to move. When DOGE starts moving higher, it usually moves pretty fast. I wouldn’t be surprised to see a daily from here to somewhere in the 9 – 10 cents range, chop there for a bit, then another daily to 15 cents. It’ll be a fast move… maybe churn a bit higher from there, but as much as I’d love for it to go to $1+, I honestly don’t see it getting too much past twenty cents on this rally," the analyst tweeted.

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Why It Matters: Kaleo hints at a more thrilling rally on the horizon. Pointing to a higher time frame resistance level for the Bitcoin BTC/USD pairing at approximately 550 sats, he suggests that the true DOGE rally may not take place until later in 2024. "I don’t think the real DOGE rally starts until later in 2024, but that doesn’t mean we can’t have some fun before then."

Just a few days ago, Kaleo anticipated a surge of over 140% in DOGE’s value by the end of 2023. Encouraged by Dogecoin’s recent 6% rally, bringing its current price to $0.071, the analyst said, “Every dog has its day. It’s finally time to send.”

Price Action: At the time of writing, DOGE was trading at $0.076 up 3.29% in the last 24 hours, according to Benzinga Pro.

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