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<p class="is-style-lead">A popular cryptocurrency analyst known for his YouTube channel, Crypto Capital Venture, believes Dogecoin is on the verge of a major breakout. In his latest video update on Dec. 5, he pointed to several metrics indicating growing strength and investor interest in Dogecoin.</p> 
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<blockquote class="wp-block-quote"> 
 <p>“We’ve been calling this breakout since very very very low for Dogecoin and it’s just getting started.”</p> <cite>YouTube channel Crypto Capital Venture</cite>
</blockquote> 
<p>Currently, 65% of Dogecoin (<a href="https://crypto.news/price/dogecoin/" data-type="link" data-id="https://crypto.news/price/dogecoin/">DOGE</a>) wallet addresses are profitable, meaning only 35% are at a loss. There has also been a notable 50,000 increase in Dogecoin holding addresses over the past 30 days.</p> 
<p>The analyst sees these metrics as strengthening fundamentals and believes Dogecoin remains undervalued. He has set a short-term price target of 16 cents, representing a nearly 100% rally from current levels of around 9 cents. This target is based on his public call earlier this year when he revealed he bought a large amount of Dogecoin, around 6 cents.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-cardano-ethereum-show-bull-market-setup-analyst/"> Bitcoin, Cardano, Ethereum show bull market setup: analyst </a> </p> 
<p>The upcoming&nbsp;<a href="https://crypto.news/spacex-dogecoin-satellite-moon-q1-2022/" target="_blank" rel="noreferrer noopener">Doge-1 satellite launch</a>,&nbsp;paid for entirely in Dogecoin, drives his bullish outlook. Other catalysts include overall enthusiasm in cryptocurrency markets now that Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) has moved back above $42,000. The analyst believes that while Bitcoin consolidates, Dogecoin will “steal the show” and massively outperform other cryptocurrencies soon.</p> 
<p>It remains to be seen whether the analyst’s lofty predictions and targets will play out. Still, the analyst expressed a firm belief that Dogecoin still has plenty of upside ahead.</p> 
<blockquote class="wp-block-quote"> 
 <p>“The rally hasn’t honestly even started in my opinion. So Dogecoin is up 7% right now. I didn’t even know is actually spiking as I made the video. We just made new high so almost nine and a half cents and we’re going to get to that 16 cent target that I’ve been talking about forever.”</p> <cite>YouTube channel Crypto Capital Venture</cite>
</blockquote> 
<p> Read more: <a href="https://crypto.news/dogecoin-hits-0-09-two-meme-coins-in-focus/"> Dogecoin hits $0.09, two meme coins in focus </a> </p>

Analyst believes Dogecoin is ‘about to go crazy’

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