Dogecoin Set for Big Gains, Says Ex-Goldman Sachs Exec
Raoul Pal, a former Goldman Sachs executive, is growing optimistic about Dogecoin (DOGE) following the impressive performance of XRP, which has surged more than 5x in the past month.
Pal stated that Dogecoin is currently forming a wedge pattern on its monthly chart, suggesting it could see similar growth to XRP.
The wedge pattern, marked by two converging trendlines, typically signals a bullish breakout if the price rises above the upper trendline. Pal described the chart as “insane banana,” a term he uses to describe a phase where prices skyrocket in a parabolic, banana-shaped curve.
At the time of writing, Dogecoin is priced at $0.404, reflecting a 172% increase over the past 30 days. Pal also highlighted XRP’s recent performance, noting that it has broken out from its own wedge pattern, which historically led to massive gains.
READ MORE:
Tron Hits New All-Time High, Doubling Price Within HoursHe pointed out that the last time XRP experienced such a breakout, it soared by 5,600%, hinting at the potential for significant upward movement, though it may not reach that extreme again.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hedera (HBAR) Faces Potential Further Declines Amid Bearish Trend and Decreased Social Dominance
Solana (SOL) Longs Seek Recovery After $60 Million Liquidation Setback
Solana faces bearish pressure after $60M liquidations, but bullish sentiment among longs persists. Can SOL reclaim $210 and rally further?
New Solana staking coin M3M3 on Meteora draws investments, but unstaking may be a problem
Share link:In this post: Meteora’s native M3M3 token rallied from $0.001 to $0.12 within days, boosted by demand for passive income. Traders compete to buy M3M3 and become a top 100 wallet to receive staking rewards. The token aims for utility while also facing speculative trading and selling.