A Crypto Analyst Predicts Massive Gains for Dogecoin, Envisions $1 Trillion Market Cap
A well-known crypto analyst has made a bold prediction, suggesting that a popular memecoin is poised to see significant growth, potentially reaching a market cap of $1 trillion.
Sharing his thoughts on social media platform X, Crypto Kaleo, a pseudonymous trader with a large following, informed his audience of over 700,000 followers that he foresees Dogecoin (DOGE) skyrocketing to nearly $7 per coin. This projection represents an astonishing increase of over 2,600%.
“My target for DOGE this cycle is a one trillion dollar market cap (roughly $6.9420). Memes have proven they have real value throughout the course of the bear market. The king of memes deserves to see $1 trillion.”
As of the time of writing, Dogecoin is trading at $0.24, marking a 9.97% gain in the last 24 hours.
Explaining his rationale, Crypto Kaleo pointed out that he arrived at his forecast by analyzing Dogecoin’s performance in the previous cycle compared to Bitcoin (BTC) and assuming a similar trajectory for this cycle.
“‘Kaleo, isn’t this a little too bullish?’ Let’s do some math! My target for Bitcoin this cycle is >$500,000. That’s >$10 trillion market cap. Last bull market, Dogecoin hit nearly 10% of BTC’s market cap. 10% of $10 trillion is $1 trillion. $1 trillion market cap for Dogecoin = ~$6.9420 per DOGE.”
Concluding his analysis, the trader suggested that Dogecoin is currently showing strength against Bitcoin and hinted at an imminent significant price movement.
“Dogecoin is breaking out vs. Bitcoin. 100%+ God candle incoming.”
Bitcoin is currently trading at $118,147, experiencing a slight decrease for the day.
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