As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of bull runs and bear markets. The current momentum in the crypto industry is reminiscent of the dot-com boom, albeit with a bit more volatility.
The crypto market is currently filled with optimism, as many meme coins are also experiencing a surge in popularity. A well-known crypto analyst on TradingView has predicted a significant 160% increase for one of these meme coins, and it isn’t Dogecoin or Shiba Inu. Instead, the attention is on DOGS, a relatively new meme cryptocurrency that has garnered a strong fanbase on social media platforms.
Crypto Analyst Predicts 160% Breakout For DOGS
A user named CoreCrypto1, known for analyzing cryptocurrencies, has shared an optimistic forecast about DOGS Coin. On the TradingView platform, he presented DOGS as a possible coin to experience a breakout. In his analysis, CoreCrypto1 emphasizes a descending triangle pattern on the daily chart of DOGS, mentioning that it has recently broken free from this structure.
In simpler terms, this descending triangle pattern is generally interpreted as a positive sign for the market, as it usually concludes with a breakthrough that sparks an upward trend. The upper line of this descending triangle, which has been in place since August, has consistently halted DOGS’s price increases up until now.
As a crypto investor, I’m excited to note that DOGS has successfully breached the resistance level and now finds itself in a crucial phase of retesting the breakout point. This retest could potentially transform the previous resistance into a support level, paving the way for significant growth for the meme coin. If this retest proves successful, I believe this setup could catapult DOGS towards a potential increase of 150-160% from its current price.
Price Levels To Keep An Eye On
Launched in July 2024, DOGS is a freshly minted meme-based cryptocurrency connected to the TON blockchain, marking its entry into a unique niche. This digital currency is inspired by the Spotty mascot, a character conceived by Pavel Durov, the brains behind Telegram.
As an analyst, I’ve noticed an intriguing phenomenon with the cryptocurrency DOGS. It has managed to amass a significant fanbase, particularly among Telegram users. Initially launched at just $0.001633, it experienced a dramatic downturn post-launch. However, following the US elections, there’s been a surge of investment into the market, which has triggered an upward trend on the daily candlestick chart for DOGS.
CoreCrypto1 advised purchasing DOGS at its current market value, and suggested additional buys when prices drop to around 0.00052 USD, with a stop loss set at 0.000444 USD. His optimistic price predictions for DOGS are $0.0008, $0.0011, and $0.00152. At the moment of analysis, DOGS was trading at 0.0005707 USD. Achieving these targets would result in potential returns of 40%, 92%, and 166%.
Remarkably, the cost trend for DOGS has persistently risen following the analysis, with it currently trading at $0.0006269 and experiencing an increase of 12.5% over the last day. This upward trajectory suggests a potential rise of approximately 160%.
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2024-11-10 14:11