Raoul Pal, a former Goldman Sachs executive, is predicting big things for Dogecoin (DOGE). He’s noticed a bullish chart pattern that he believes could lead to gains similar to those recently seen in XRP.
Dogecoin’s Bullish Wedge
Pal, who boasts over 1 million followers on X (formerly Twitter), points to a “wedge pattern” on DOGE’s monthly chart. This pattern, characterized by converging trend lines, is often seen as a bullish indicator if the price breaks above the upper trendline. He even called the potential price action an “insane banana chart,” using his term for a period of rapid price increases. Currently trading around $0.40, DOGE is already up a massive 172% over the past month.
XRP’s Explosive Run
Pal highlights XRP’s recent performance as a potential indicator of what DOGE could do. XRP, he notes, recently broke out of a similar wedge pattern, resulting in a staggering 5600% increase previously. While he doesn’t expect a repeat of that magnitude, he believes it demonstrates the potential for significant upside. XRP is currently trading at $2.57, up approximately 424% in the last 30 days.
Sui (SUI) Shows Promise Against Solana (SOL)
Pal isn’t just focused on DOGE and XRP. He’s also keeping a close eye on Sui (SUI), noting a bullish “inverse head and shoulders” pattern against Solana (SOL). This pattern, if it breaks out to the upside, is generally considered a positive signal. SUI is currently trading at 0.0166 SOL, or approximately $3.67.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto carries significant risk.
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