Dogecoin (DOGE), the most popular meme cryptocurrency, could soon see a sharp increase in price. At least that’s the conclusion drawn by Raul Pal, a former top Goldman Sachs manager and prominent cryptocurrency analyst,’s latest outlook on the price of DOGE.
In his latest post, Pal highlighted that the price of the most popular meme coin is completing what appears to be the bullish flag pattern that began 2021. At the time, Dogecoin’s price peaked at around $0.75 and is currently at $3. Years later, this investor says DOGE is within sniffing distance of the “banana zone.”
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One thing to note here is that Pal’s “banana zone” means a period of unlimited price appreciation, which looks like a banana on the price chart. In his vision, Dogecoin, or “dog”, can smell “ripe fruit”. This means that meme coins are about to enter such a stage.
Whether DOGE actually paints a banana on the price chart is a question for the future. For Pal himself, the indicator that the crypto market is going “banana” would be for the price of Solana (SOL) to break above $185.
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Solana, the main attraction of the cycle, is a kind of indicator of the market’s risk-on regime. As seasoned investors say, for SOL, getting past this mark will be enough to confirm the fruit stage. Pal therefore urges caution, as the range’s failures over the past few months have severely eroded confidence in a sustained bullish rally.
