Insane Dogecoin Prediction Made by Top Analyst as DOGE Returns to $0.23

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Dogecoin, the cryptocurrency inspired by the popular Shiba Inu meme, experienced a notable surge in value, climbing over 10% in the past 24 hours. The price briefly peaked at $0.244 early Saturday before stabilizing at $0.243 at the time of this report.

This marks the fourth consecutive day of gains for Dogecoin since August 5th, following a broader recovery that commenced from a low of $0.188 on August 3rd.

The recent upward momentum appears to be fueled by increased accumulation, particularly from large holders. Crypto analyst Ali Martinez reports that whales acquired 230 million Dogecoin (DOGE) within a 24-hour period.

Dogecoin's price rebound has positioned it as the top-performing cryptocurrency among the top 10 by market capitalization. Over the last seven days, DOGE has risen by 23%, surpassing the gains of Ethereum (20%) and Cardano (15%).

As Dogecoin recovers from its dip in late July, indications suggest that informed investors ("smart money") are building their positions in anticipation of the next significant price trend.

Potential for a Major Dogecoin Breakout?

According to Kaleo, a well-known crypto trader and analyst, Dogecoin may be poised for a substantial upward movement in the near future.

In a recent tweet, Kaleo suggested that once Dogecoin gains momentum, it could swiftly "take a day or less for it to speedrun it back to the recent highs."

Dogecoin will a day or less to speedrun it back to the recent highs when it gets going— K A L E O (@CryptoKaleo) August 9, 2025

Kaleo has previously drawn comparisons between Dogecoin's current position and its state in early December 2020, prior to an extraordinary 26,000% increase. He emphasizes that Dogecoin's price remains compressed, underscoring the potential for a significant breakout once a catalyst emerges.

This situation positions Dogecoin as a potentially attractive volatility play for traders seeking breakout opportunities. From a technical analysis perspective, Dogecoin appears to be forming a double bottom pattern, which is considered a bullish signal if confirmed. Read original article on U.Today