- Crypto analyst Michaël van de Poppe believes Dogecoin (DOGE) could mimic XRP’s significant breakout, predicting a possible surge up to $0.13.
- The total crypto market cap also indicates a likely massive breakout, suggested by the impending golden cross on the weekly timeframe.
From Meme to Mainstream: Dogecoin’s Potential Parabolic Movement
Prominent crypto analyst Michaël van de Poppe recently stirred the crypto space with his prediction that Dogecoin might follow XRP’s notable rally last week. This analysis comes amidst the backdrop of XRP’s swift ascend of over 73% within 24 hours, instigated by Judge Analisa Torres’s landmark ruling that Ripple’s open-market XRP sales aren’t securities.
Michaël van de Poppe communicates his insights to a vast audience of 162,000 YouTube subscribers. By comparing Dogecoin’s current market structure with XRP’s price behavior before its last week’s explosive growth, he highlights some striking similarities. The analyst overlaps XRP’s 12-hour chart with Dogecoin’s line chart, illustrating that Dogecoin seems to mirror the market structure of XRP.
Van de Poppe suggests that if Dogecoin traces XRP’s path, the leading meme-inspired crypto could see a rally of up to 157% from its current prices. As of this writing, DOGE is trading at approximately $0.07.
Spotting Golden Opportunities
Beyond Dogecoin, Van de Poppe is closely monitoring the market cap of all crypto assets, commonly referred to as TOTAL. According to his assessment, the TOTAL chart seems poised for a remarkable breakout as it shows signs of a ‘golden cross’ on the weekly timeframe.
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In trading terms, a golden cross occurs when a long-term moving average, like the 200-week MA, moves below a short-term MA such as the 50-week moving average. Traders often view this crossover as a harbinger of an extended bullish phase.
Van de Poppe asserts that we’re on the verge of a significant breakout. Furthermore, the market appears to maintain above the 200-week MA, indicating the likelihood of a sustained bullish run. Predicting the momentum to last for a couple of months, the analyst estimates a higher high in the range of 40% to 80%.
As of this writing, the cumulative market cap of all cryptocurrencies sits at a staggering $1.172 trillion. With this backdrop, whether or not Dogecoin takes its leap towards $0.13 remains a watchful waiting game for the crypto community.
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