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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