Popular cryptocurrency analyst Michaël van de Poppe has recently revealed he believes that the price of the meme-inspired cryptocurrency Dogecoin ($DOGE) could potentially see a remarkable rally similar to the one $XRP saw earlier this month.
The price of XRPis up over 65% over the past weekover a recent ruling by a federal judge in New York that determined that XRP is “not necessarily a security on its face.”
After the landmark ruling, a number of cryptocurrency exchanges decided to relist the token, including Coinbase, Kraken, and Gemini. As reported, various analysts are bullish on the cryptocurrency, with the founder and manager of Kralow Capital, Thomas Kralow, revealing he sees XRP hit $30 in the future.
In his latest strategic forecast, which he shared with his sizable YouTube audience of 162,000 subscribers, Van de Poppe discussed the striking similarities between Dogecoin’s market architecture and XRP’s trajectory before its rapid ascent last week.
The crypto market analyst superimposed the 12-hour chart of XRP over Dogecoin’s line chart to illustrate how closely DOGE seems to echo the market structure of the cross-broder payments token.
According to Van de Poppe, if Dogecoin treads the same path as XRP, we could see the memecoin leap by an impressive 157% from its current price in a rally that could see DOGE value at $0.15 to $0.18 per token.
At the time of writing, one DOGE token is trading at $0.068 per token after rising more than 5% over the past week. The cryptocurrency has outperformed major cryptocurrencies like Bitcoin and Ethereum, but failed to keep up with Solana, Cardano, and others.
As CryptoGlobe reported, Van de Poppe has recently made a series of optimistic forecasts for several altcoins, including $XRP, Chainlink ($LINK) and Polygon ($MATIC), in tweets shared with his over 600,000 followers on the microblogging platform.
Featured image via Unsplash.