Cryptocurrency analyst Kaleo predicts that the “worst is over” for Dogecoin.



  • DOGE recently dropped to $0.082 but rebounded to $0.092, showing signs of stabilization.

  • Analyst Kaleo said the worst may be over and predicted a consolidation phase before a significant rebound in early 2025.

The cryptocurrency market has seen significant volatility in recent days, with Dogecoin [DOGE] also seeing considerable volatility.

DOGE’s value has plunged by about 25% over the past week, falling to a low of $0.082. The decline reflects the challenges facing the entire cryptocurrency market.

However, a significant change has occurred and Dogecoin is showing signs of recovery. The meme-inspired cryptocurrency has gained 10% as of latest data and is currently trading at $0.092.

Has Dogecoin hit bottom?

Kaleo, an authority in the cryptocurrency analysis community, recently shared some insights suggesting that Dogecoin’s downturn may be coming to an end.

Kaleo said the significant low observed could be the lowest point of the cycle and DOGE is not expected to fall into the previously expected 6-7 cent range.

This, he explained, offers a glimmer of hope for investors who are concerned about further declines in the stock market.

“The high 7/low 8 we’re seeing should be the bottom.”

Kaleo’s predictions are not only optimistic, but also historically accurate, especially regarding Dogecoin’s market behavior.

On July 24, before the latest market drop, Kaleo predicted a big market drop, which could be followed by a rally, saying,

“I’m still prepared for one last nuclear strike before gold gets above $1.00.”

Since then, Kaleo has been watching DOGE’s falling price action. On August 2, when DOGE’s price was still gradually falling, Kaleo noted,

"I can understand people being bitter about this — but in my opinion, it's a gift. Is waiting until early 2025 for full shipments really that long? Especially if you get another discount and a few months to build up."

Regardless, Kaleo has now revealed that the bearish sentiment towards DOGE appears to be over. Commenting on DOGE’s ongoing recovery, Kaleo noted in an earlier post that,

“The rebound has been pretty good so far.”



Is DOGE ready for a big rally?

Regardless, it’s worth looking into DOGE’s fundamentals to see if the asset is truly ready for a big rally, not just a small one.



AMBCrypto’s observation of Coinglass data shows that DOGE’s open interest has increased by 3.23% over the past 24 hours, indicating that the total value of unsettled derivative contracts such as futures and options is $449.7 million.

Conversely, DOGE’s open interest has dropped by 19.83% and is currently worth $2.85 billion.



Interestingly, despite the recent sharp price drop, IntoTheBlock statistics also show that as of press time, about 70% of DOGE holders remain profitable, with only 27% losing money and about 2% breaking even.