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A broadly adopted crypto analyst is predicting that Elon Musk will spark an enormous Dogecoin (DOGE) transfer after he completes a rebrand of Twitter.
Pseudonymous analyst Kaleo tells his 594,000 Twitter followers that he believes Musk will quickly combine Dogecoin into the favored microblogging platform.
Kaleo predicts within the subsequent a number of weeks, Elon Musk will announce plans for some sort of integration of DOGE into the social media platform, echoing related rumors from earlier this yr.
“If I needed to guess, Elon takes one other few days, perhaps even one other few weeks to truly say how he plans on integrating DOGE into X. I believe there’s a stable probability he really does one thing this time although, and him together with it in his bio similtaneously the X rebrand isn’t only a coincidence.”
Kaleo additionally says that the Dogecoin towards Bitcoin (DOGE/BTC) chart seems bullish after a breakout via an extended downward resistance. Within the shorter time period, he says that Dogecoin will probably quickly see a small market correction earlier than it resumes an upward development.
“Within the meantime, Dogecoin cools off a bit and catches up with the blood we’re seeing throughout the remainder of the market. Why? Persons are impatient they usually need fast outcomes. Rumors and hope solely holds up for therefore lengthy in a bear market.
So, I believe it’s a fairly stable transfer to proceed to build up on any dips we get from right here. The charts proceed to look nice, and will even after a minor correction.
Simply gotta be a bit affected person.”
Kaleo predicts that DOGE will finally reclaim the $0.10 degree and past.
“I’ve been encouraging accumulating DOGE on this vary for months now. I nonetheless assume it’s a very good place so as to add. By the point it lastly has its transfer again to $0.10-plus, it’ll occur quick, and all the timeline will say it was apparent looking back.”
Dogecoin is buying and selling for $0.0774 at time of writing, up 4.9% over the past 24 hours.
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