Dogecoin Could Be Gearing Up For A 150% Rebound, Says Crypto Analyst Even As Diamond Hands Offload Memecoin

A well-known cryptocurrency influencer shared an optimistic outlook on Dogecoin (CRYPTO: DOGE) on Monday, predicting a massive upside similar to previous bullish cycles.

What Happened: Cas Abbé took to X to compare the current state of the dog-themed meme coin with its performance in the third quarter of 2024 and the fourth quarter of 2023.

He pointed out that in both instances, Dogecoin experienced a breakout from the descending channel resulting in a rally of over 150%. Typically, a breakout above the upper trendline of the channel is considered bullish.

“I know sentiment for memes is down a lot, but DOGE has been in this space for a decade and will continue to be here,” Abbé opined. “A $1 DOGE is a realistic price target for this cycle.”