Twitter-Famous Technical Analyst On Dogecoin Says 'Buy A Bag' And 'Forget About It'

A Twitter-popular cryptocurrency analyst has advised investors to “buy a bag” of meme cryptocurrency Dogecoin (CRYPTO: DOGE) and then “forget about it.”

What Happened: The technical analyst who goes by the username Kaleo on Twitter, urged his 357,000 followers on the microblogging platform to not “sleep on DOGE.”

So my advice? Buy a bag. Forget about it. Enjoy the memes this fall.

— K A L E O (@CryptoKaleo) August 20, 2021

See also: How To Buy Dogecoin (DOGE)

Kaleo believes that the Dogecoin/Bitcoin (CRYPTO: BTC) pair will continue to trend higher until it hits the high timeframe (HTF) resistance of 0.000009 Bitcoin, worth $0.4526 at press time.

$DOGE / $BTC

Here's the gameplan - Dogecoin will continue to melt higher until it hits the HTF resistance on the BTC pair around 900 sats. This is where you should be stacking, because when it breaks that line. It's over (aka giga-send above $1.00). pic.twitter.com/HWPusrTTxc

— K A L E O (@CryptoKaleo) August 20, 2021

See Also: I Chased 'Dogemons' Around The Streets Of Tokyo And 'Earned' Dogecoin: Here's How You Can Repeat The Feat

Why It Matters: Other well-known cryptocurrency analysts too have taken a bullish stance on Dogecoin in recent weeks.

The Crypto Dog, a crypto analyst who has almost 566,000 followers on Twitter, said earlier this month that Dogecoin is poised to outperform Bitcoin.

Matt Wallace, whose YouTube channel has 248,000 subscribers, said last week he believes that Dogecoin passing the $1 mark is “inevitable” following the re-establishment of the Dogecoin Foundation.

Dogecoin is currently ranked seventh among the world’s largest cryptocurrencies with a market capitalization of $42.02 billion, as per CoinMarketCap data.

The Shiba Inu-themed cryptocurrency’s year-to-date gains are an impressive 5,543.45%. It's currently down 56.5% from its all-time high of $0.7376 reached in May.

DOGE Price Action: Dogecoin is up 1.1% over the past 24 hours, trading around $0.3202 at press time.

Read Next: Bitcoin Crosses $50,000 Mark After 3 Months