Dogecoin May Repeat the 2021 Cycle to Reach Around 7 USD

A famous cryptocurrency expert, known as @CryptoKaleo on X, is keeping an eye on the breakout of Dogecoin in the near future. The anonymous expert shared a price analysis chart on X on August 13, showing the similarities between the 2021 cycle and the current cycle.

@CryptoKaleo emphasized that in January 2021, Dogecoin decreased in value after months of accumulation in a descending range. However, this move led to a strong breakout, helping this meme coin soar over 8,000% and reach an all-time high of 0.7376 dollars on May 8, 2021. The analyst argues that DOGE is ready to make a move similar to January 2021, which he hopes will create the next major breakout. Yes, the price trajectory of the meme coin since July 2021 has been nothing but a series of accumulation phases within a descending range followed by modest breakouts. According to @CryptoKaleo, it is time for a spectacular breakout on the chart similar to what we witnessed in 2021. Analysts argue that DOGE is ready to make a move similar to that in January 2021, which they hope will create the next big breakout. Yes, the price trajectory of the meme coin since July 2021 has been nothing but a series of accumulations within a descending range followed by modest breakouts. According to @CryptoKaleo, it is time for a spectacular breakout on the chart similar to what we witnessed in 2021.

The recent activity of whales is also worth our attention. Another well-known analyst, known as @ali_charts on X, emphasized that the activity of DOGE whales has recently reached a one-month high.

"Expect the holy candle to start from there," @CryptoKaleo added. At the time of the press release, Dogecoin was trading at $0.2244. To reach the analysts' target of $6.9420, its value needs to increase by more than 3,000%.