Crypto Analyst Sounds 160% Breakout Alarm For This Meme Coin – It’s Not Dogecoin Or Shiba Inu

The crypto industry is reveling in bullish sentiment, with most meme coins also participating in the action. Notably, a crypto analyst on the TradingView platform has dropped an interesting 160% bullish outlook for a meme coin, and it’s neither Dogecoin nor Shiba Inu. Instead, the focus is on DOGS, a relatively new meme cryptocurrency with a strong following on social media.

Crypto Analyst Predicts 160% Breakout For DOGS

A crypto analyst who goes by the name CoreCrypto1 recently revealed a bullish perspective analysis on DOGS. Posted on the TradingView platform, the analysis highlights DOGS Coin as a potential breakout candidate. In the analysis, CoreCrypto1 points to a descending triangle pattern on the DOGS daily chart, noting that the coin has just broken out of this formation.

This descending triangle setup is typically seen as a bullish signal, as it mostly ends with a breakout leading to upward momentum. The upper trendline of this descending triangle, which has been forming since August, has repeatedly capped DOGS’s rallies until now.

CoreCrypto1 points out that DOGS has not only managed to break through this resistance but is now in the crucial phase of retesting the breakout level. This retest could convert the former resistance into a support level and set the meme coin on a path to substantial gains. If the retest is successful, CoreCrypto1 believes this setup could propel DOGS to a 150-160% increase from its current price.