The cryptocurrency market is buzzing with excitement as bullish trends emerge, particularly among meme coins that seem to be riding the wave. In a surprising twist, a prominent crypto analyst on TradingView has forecasted an incredible 160% potential increase for a meme coin that isn’t Dogecoin or Shiba Inu. The spotlight is on DOGS, an up-and-coming meme cryptocurrency that has gained significant traction on social media.

A Bold Prediction for DOGS Coin

Crypto analyst CoreCrypto1 has shared an optimistic forecast for DOGS, positioning it as a prime candidate for a breakout. Their analysis reveals a descending triangle pattern in DOGS’ daily chart, indicating that the coin has successfully broken through this notable structure. This pattern is often interpreted as a bullish sign, typically leading to upward price movement.

The descending triangle formation has capped DOGS' rallies since August, but it appears that the coin has now managed to overcome this resistance. CoreCrypto1 emphasizes that the coin is currently in a critical phase where it needs to retest this breakout level. If this retest confirms the breakout, it could transform the previous resistance into a solid support, paving the way for significant gains. If the anticipated breakout materializes, CoreCrypto1 predicts a rise of 150–160% from its current price.

Key Price Points to Watch

DOGS is a relatively new entrant in the meme coin arena, launched in July 2024 as part of a niche linked to the TON blockchain. The coin draws inspiration from a playful mascot named Spotty, attributed to Pavel Durov, the founder of Telegram.

Remarkably, DOGS has developed a robust following, especially among users on Telegram. Initially, after launching at $0.001633, DOGS experienced a sharp downturn but has recently been buoyed by market optimism following the US elections, leading to an uptrend on the daily chart.

CoreCrypto1 suggests entering the DOGS market at its current price, with additional buying opportunities if the price dips down to $0.00052. For risk management, a stop-loss level has been recommended at $0.000444. The analyst has set ambitious price target levels at $0.0008, $0.0011, and $0.00152. When the analysis was penned, DOGS was trading at $0.0005707, and achieving these targets would yield returns of 40%, 92%, and an astounding 166%, respectively.

Encouragingly, recent price data indicates that DOGS continued its upward trend following the analysis. At the time of this report, DOGS traded at $0.0006269, reflecting a 12.5% surge in just 24 hours. This persistent positive momentum bolsters the feasibility of the 160% rally that the analyst predicts.

As the excitement for DOGS grows, investors and crypto enthusiasts alike are keenly observing this developing story in the vibrant world of meme coins. Stay alert; this might just be the next big thing in the crypto sphere!