• Crypto analyst Michaël van de Poppe believes Dogecoin (DOGE) is on the verge of following XRP’s big breakout rally, predicting that DOGE could rally by as much as 157%.
• Van de Poppe says his prediction is based on the similarity between DOGE and XRP’s market structure prior to last week’s surge.
• The crypto trader also notes that the total market cap of all crypto assets appears to be forming a golden cross, signaling potential gains of 40-80%.
Dogecoin Set for Next Big Rally?
Crypto strategist Michael van de Poppe believes top memecoin Dogecoin (DOGE) could soon follow in the footsteps of XRP’s explosive breakout rally from last week. Van de Poppe points out that Dogecoin’s current market structure looks similar to XRP before its major surge, with a possible run up to $0.15-$0.18.
XRP’s Big Breakout Rally
XRP rallied by over 73% in less than 24 hours after Judge Analisa Torres ruled Ripple’s automated, open market sales of XRP are not securities. This sent shockwaves throughout the crypto industry and marked a huge win for Ripple who has been battling allegations that it had illegally sold unregistered securities for years.
Dogecoin Mirroring XRP?
Van de Poppe suggests that Dogecoin may be next in line for a major price surge if it follows in the footsteps of XRP. He displays an overlaid chart showing how closely both coins’ markets have mirrored each other leading up until now. If his theory plays out correctly, Doge could easily climb another 157% from its current price of $0.07.
Golden Cross Signals Bullish Momentum
The crypto trader also notes signs of bullish momentum appearing across all cryptocurrencies as they approach a golden cross formation on their weekly timeframe charts. A golden cross occurs when long-term moving averages such as 200-week MA crosses below short term MAs like 50-week MA and typically signals a long-term increase in prices according to Van de Poppe who predicts further growth towards $2 trillion before any corrections take place over the next two to three months.
Dogecoin appears to be setting itself up for another big breakout similar to XRP last week if Michaël van de Poppe’s predictions are correct while overall crypto assets appear ready for further growth judging by the approaching golden cross formation on their weekly charts according to Van de Poppe himself who sees prices reaching $2 trillion before any corrections set in over the coming months ahead.