According to pseudonymous crypto analyst Kaleo, Dogecoin (CRYPTO: DOGE) looks primed for a boost and will likely not remain idle compared to other altcoins.
In a Twitter post on Friday, the analyst said that too many altcoins had "been squeezed already" for Dogecoin "to not to have its moment."
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Too many alts have been squeezed already for Dogecoin to not have its moment.
— K A L E O (@CryptoKaleo) March 31, 2023
Once again, plan on rotating quickly back into BTC - but still think there’s opportunity for a solid scalp
Kaleo added that he would ride with DOGE until the cryptocurrency "sees a decent squeeze." The analyst believes that, when the meme coin moves, "it usually happens all at once" and that it is "better to enter when it’s boring like it is now."
Still gonna ride with this $DOGE king until it sees a decent squeeze.
— K A L E O (@CryptoKaleo) March 31, 2023
Chart looks too primed not to. pic.twitter.com/BlBw3FZV76
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One other thing to note is that when DOGE moves, it usually happens all at once - so better to enter when it’s boring like it is now pic.twitter.com/qIhWaFWoVG
— K A L E O (@CryptoKaleo) March 31, 2023
At the time of writing, DOGE was trading at $0.07658, up 3% in the last seven days.
Last week, DOGE developer Michi Lumin announced a massive update for the cryptocurrency, including support for QR codes, message signing, and Windows builds. In addition, the developer added that the upgrade would include language support for developers and non-developers.
Meanwhile, DOGE rival Shiba Inu’s (CRYPTO: SHIB) much anticipated new layer-2 scaling solution, Shibarium, has now seen over a million transactions over Puppynet, Shibarium's testnet.
According to Blockscouts’s report, close to 1,076,331 transactions have occurred over Shibarium’s testnet since it launched in its beta form last week.
Image: Shutterstock