Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Dogecoin Set for Big Gains, Says Ex-Goldman Sachs Exec

Dogecoin Set for Big Gains, Says Ex-Goldman Sachs Exec

Cryptodnes2024/12/04 21:11
By:Cryptodnes

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 Hours

He 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.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

STEPN GO and Adidas Launch Exclusive Co-Branded Sneakers

These sneakers combine Adidas' superior performance design with state-of-the-art smart technology.

Cryptotimes2024/12/08 09:01

UK Bans Access to Pumpdotfun for Residents

The FCA has banned Pump.fun from operating in the UK, warning users about unauthorized financial services and potential scams.

CryptoNews2024/12/08 02:44

“Bitcoin Price Will Even Reach Seven Figures” – Bitcoin Suisse Founder

However, Bitcoin Suisse founder Niklas Nikolajsen criticizes Switzerland's crypto regulation, stating it's no longer a leading location for the industry.

CryptoNews2024/12/08 02:44