Crypto Analyst Predicts 160% Breakout For DOGS Meme Coin

The crypto industry is reveling in bullish sentiment, with most meme coins also participating in the action. Notably, a crypto analyst on the TradingView platform has dropped an interesting 160% bullish outlook for a meme coin, and it's neither Dogecoin nor Shiba Inu.

A crypto analyst has predicted a 160% breakout for a meme coin that is not Dogecoin or Shiba Inu.

The analyst, who goes by the name CoreCrypto1, recently shared his bullish perspective on DOGS, a relatively new meme cryptocurrency.

According to his analysis, DOGS Coin is a potential breakout candidate on the daily chart.

The analyst points to a descending triangle pattern on the chart, indicating that the coin has just broken out of this formation.

This setup is usually seen as a bullish signal, as it often ends with a breakout leading to upward momentum.

CoreCrypto1 highlights that DOGS has broken through this resistance and is now in the crucial phase of retesting the breakout level.

This retest could convert the former resistance into a support level and set the meme coin on a path to substantial gains.

If the retest is successful, this setup could propel DOGS to a 150-160% increase from its current price.

DOGS is a new dog-themed meme coin that was launched in July 2024 as part of a new niche of cryptocurrencies tied to the TON blockchain.

The meme coin is inspired by the Spotty mascot, which was created by Pavel Durov, the founder of Telegram.

DOGS has garnered a huge following on social media, especially amongst Telegram users.

Launched at $0.001633, DOGS crashed massively after launch.

However, recent inflows into the market after the US elections have seen it kick off an uptrend on the daily candle timeframe.

CoreCrypto1 has recommended entering DOGS at the current market price, while also suggesting further buys on dips up to $0.00052 and a stop loss at $0.000444.

His targets for DOGS are ambitious, with price levels set at $0.0008, $0.0011, and $0.00152.

At the time of the analysis, DOGS was trading at $0.0005707. Reaching the price targets would mean returns of 40%, 92%, and 166%, respectively.

Interestingly, price data shows that DOGS has continued its price uptick since the analysis.

At the time of writing, DOGS is trading at $0.0006269 and is up by 12.5% in the past 24 hours. This positive momentum further lends to the outlook of a 160% surge.