The cryptocurrency industry is enjoying bullish sentiment, with most meme cryptocurrencies also getting in on the action. It is worth noting that one of the cryptocurrency analysts on the TradingView platform dropped an interesting 160% bullish forecast for the Mimi coin, which is… Nor Dogecoin no Shiba Inu. Instead, the focus is on DOGS, a relatively new cryptocurrency with a strong following on social media.
Cryptocurrency Analyst Predicts a 160% Bulldog Penetration
A crypto analyzer named CoreCrypto1 Recently revealed Bullish perspective analysis on DOGS. The analysis was published on the TradingView platform, and it highlights DOGS Coin as a potential hack candidate. In the analysis, CoreCrypto1 points to a bearish triangle pattern on the daily chart of DOGS, indicating that the coin has just broken out of this formation.
this Descending triangle setup It is usually seen as a bullish signal, as it often ends in a breakout that leads to upward momentum. The upper trend line of this descending triangle, which has been forming since August, has repeatedly capped DOGS rallies so far.
CoreCrypto1 points out that not only did DOGS manage to break through this resistance, but it is now in the crucial stage of retesting the breakout level. This retest could turn previous resistance into a support level and put the meme on the path to significant gains. If the retest is successful, CoreCrypto1 believes this setup could push DOGS 150-160% higher than its current price.
Price levels to watch
DOGS is a relatively new dog-themed meme coin Which was launched in July 2024 As part of a new field of cryptocurrencies linked to the TON blockchain. The meme coin is inspired by the mascot Spotty, created by Pavel Durov, founder of Telegram.
Interestingly, DOGS has gained a large following on social media, especially among Telegram users. DOGS launched at $0.001633, but crashed dramatically after launch. However, recent inflows into the market After the US elections I’ve seen it Start an uptrend On the daily candlestick time frame.
CoreCrypto1 recommended entering DOGS at the current market price, while also suggesting further buys on dips up to $0.00052 and a stop loss at $0.000444. His targets for DOGS are ambitious, with price levels set at $0.0008, $0.0011 and $0.00152. At the time of analysis, DOGS was trading at $0.0005707. Reaching the price targets would mean returns of 40%, 92%, and 166%, respectively.
Interestingly, the price data shows that DOGS prices have continued to rise since the analysis. At the time of writing, DOGS is trading at $0.0006269 and has risen by 12.5% in the last 24 hours. This positive momentum reinforces expectations of a 160% increase.
Featured image from Picjumbo, chart from TradingView