These Popular Technical Analysts See Further Upside To Dogecoin As It Crosses 30-Cent Level Again
As Dogecoin (CRYPTO: DOGE) regains the 30-cent level, popular technical analysts are reiterating their bullish stance on the meme cryptocurrency.
What Happened: Popular cryptocurrency analyst Kaleo, who has almost 370,000 followers on Twitter, advised Dogecoin investors not to trade in the opposite direction of the cryptocurrency's breakout as it crossed the $0.3045 level.
Don't fade the $DOGE breakout pic.twitter.com/2IP0nYx5qA
— K A L E O (@CryptoKaleo) September 2, 2021
See also: How To Buy Dogecoin (DOGE)
The Crypto Dog, another popular crypto analyst who has almost 593,000 followers on the microblogging site, noted that the Dogecoin/Bitcoin (CRYPTO: BTC) pair seems to have bottomed as it crossed the resistance level of 0.00000575.
$doge ratio pair seems bottomed pic.twitter.com/kRNRSyoetK
— The Crypto Dog📈 (@TheCryptoDog) September 1, 2021
Another closely-followed pseudonymous crypto trader known as Pentoshi told his almost 240,000 followers on Twitter that Dogecoin’s breakout has been "great" so far and now leads to the cryptocurrency rallying to touch the $0.42 level.
USD .325c leads to .42c
Great breakout so far and up a decent amount from entry https://t.co/EOGks2BDXe pic.twitter.com/kvfOVrmIth
— Pentoshi Wont DM You (@Pentosh1) September 2, 2021
Why It Matters: These well-known cryptocurrency analysts have taken a bullish stance on Dogecoin in recent weeks.
Kaleo said earlier this week that he bought more Dogecoin as it hit a critical resistance level of 0.00000602 against Bitcoin, while The Crypto Dog said last month he believes Dogecoin is poised to outperform apex cryptocurrency Bitcoin.
Dogecoin’s year-to-date gains are an impressive 5,220.8%. However, the Shiba Inu-themed cryptocurrency is down 59.3% from its all-time high of $0.7376 reached in May and is now in seventh place in terms of market capitalization, as per CoinMarketCap data.
Price Action: Dogecoin is up more than 8% during the past 24 hours, trading at $0.3008 at press time.
Read Next: Dogecoin Gets Free Advertising As Coinbase Sponsors Mr. Beast Video: Why This Bull Is Charged Up
Photo: Courtesy of pinguino k via Flickr
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