Important Crypto Trader: Dogecoin (DOGE) ‘Waking Up’

An important crypto trader just said that Dogecoin is waking up after a period of time in which the digital asset has been dormant. Check out the latest reports about this below.

It’s been just revealed that an important crypto analyst says that the bottom is in for Dogecoin (DOGE) while predicting a big move to the upside.

Pseudonymous analyst Kaleo recently said that the dog-themed meme token could see an approximate 15% price increase from its current value.

Kaleo stated the following:

“DOGE is waking up.”

The crypto trader says that Dogecoin hit a bottom price on Wednesday at the $0.0815 level.

“This was the bottom btw (by the way).”

His chart shows DOGE breaking to the upside out of a descending triangle pattern, according to the latest reports coming from the online publication the Daily Hodl. This is suggesting a bullish reversal trend. He is predicting a big bounce from the $0.0815 level.

“Looks primed for a quick bounce from here though.”

The same online publication notes the fact that he says Dogecoin is on the verge of crossing into the $0.100 level if it can break out of the descending trendline resistance level of $0.0873.

“Break above the line, and accelerate back to ten cents with haste.”

Analytics platform Santiment said that Dogecoin (DOGE) still possesses more upside potential even after surging by over 30% earlier this week.

Santiment’s director of marketing Brian Quinlivan said that Dogecoin’s market value to realized value (MVRV) over the past 30 days is below the “danger zone.” This means that the leading meme coin likely still has some upside potential.

As noted by the online publication the Daily Hodl notes the fact that MVRV is the ratio of the prevailing price and the average price – the higher it is, the higher the likelihood of the asset coming under selling pressure.