This Memecoin Is Primed To Explode 2,600%+ This Cycle and Hit $1,000,000,000,000 Valuation, According to Analyst

This Memecoin Is Primed To Explode 2,600%+ This Cycle and Hit $1,000,000,000,000 Valuation, According to Analyst
The Daily Hodl
The Daily Hodl
DOGE+7.33%
BTC-1.37%

A widely followed crypto analyst says that one popular memecoin appears ready to print staggering gains en route to a $1 trillion market cap valuation.

In a new thread, pseudonymous crypto trader Crypto Kaleo tells his 709,800 followers on the social media platform X that he envisions the dog-themed digital asset Dogecoin (DOGE) surging to a price tag of nearly $7, which would represent a massive gain 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.”

Dogecoin is trading for $0.24 at time of writing, a 9.97% gain during the last 24 hours.

Crypto Kaleo goes on to note he mathematically deduced his prediction by comparing how DOGE did last cycle against Bitcoin (BTC) and assuming it would follow a similar pattern.

“‘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.”

The analyst concludes by saying that DOGE is currently breaking out versus the top crypto asset by market cap and that traders should expect an upcoming ‘God candle.’

“Dogecoin is breaking out vs. Bitcoin. 100%+ God candle incoming.”

Source: Kaleo/X

BTC is trading for $118,147 at time of writing, a fractional decrease on the day.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post This Memecoin Is Primed To Explode 2,600%+ This Cycle and Hit $1,000,000,000,000 Valuation, According to Analyst appeared first on The Daily Hodl.

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.