- Crypto analyst predicts Dogecoin’s potential to follow XRP’s rally.
- DOGE’s market structure mirrors XRP’s prior to its breakout.
- Dogecoin’s future in the crypto space looks promising with a potential price surge.
Dogecoin (DOGE), the popular memecoin, is poised to follow the explosive rally of XRP, according to crypto analyst Michaël van de Poppe. Just last week, XRP, the cross-border payments solution, experienced a massive surge, rallying over 70% in less than 24 hours. This was triggered by Judge Analisa Torres’s ruling that Ripple’s automated, open market sales of XRP are not securities.
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Van de Poppe, in a recent strategy session, informed his over 160K YouTube subscribers that Dogecoin’s current market structure bears a striking resemblance to XRP’s price action prior to its significant eruption. He further demonstrated this by overlaying XRP’s 12-hour chart with Dogecoin’s line chart, showing how DOGE appears to be closely mirroring the market structure of the fourth-largest crypto.
The crypto trader suggests that if Dogecoin follows XRP’s trajectory, the leading memecoin could rally by as much as nearly 200% from its current prices. This could potentially push DOGE’s price to around $0.15 to $0.18. At the time of writing, DOGE is trading for $0.069, showing a fractional increase in the last 24 hours.
Van de Poppe also highlighted the market cap of all crypto assets (TOTAL), which appears to be on the verge of a massive breakout as it displays a golden cross on the weekly timeframe. This is typically seen as a long-term bullish signal.
The future of DOGE in the crypto space looks promising. With its potential to follow XRP’s rally and its market structure mirroring that of XRP, DOGE could be on the verge of a significant price surge. This positive outlook on DOGE’s future trading price could make it a potential runner in the crypto space.
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