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