Dogecoin poised for big gains, former Goldman Sachs executive believes

The biggest memecoin on the market, Dogecoin (DOGE) is poised to post major gains soon, according to former Goldman Sachs executive Raoul Pal. He highlighted his optimism towards DOGE following XRP’s recent surge.

In a technical analysis of the token’s current price action on X, Pal highlighted that meme coin Dogecoin is forming a wedge pattern on its monthly chart. The analysis suggests that DOGE could see a rally similar to what XRP experienced recently. Ripple’s native token has seen a growth of impressive 404% in the last seven days alone.

In the first analysis, the former Goldman Sachs executive highlighted:

“You have to admit, $XRP is a pretty chart. Last time it broke out of a long wedge pattern, it went up another 5.600%! (obviously not going to repeat it, but you get the idea – I can go up a lot) Banana Zone Part 1,” wrote .

Complementing the analysis, the expert added: “$DOGE is another one that looks similar in potential magnitude. Insane Banana chart. Good luck to all! May Lord Fishnu bless you all with Bananas,” wrote .

Source: TradingView/Raoul Pal

At the time of publication, Dogecoin’s price is trading at $0,413, up 1.0% in the last 24 hours. In its monthly development, DOGE has seen a price growth of 165.1% in the last 30 days.

Dogecoin ETF in 2025? Understand

It is possible for the Securities and Exchange Commission to approve the launch of an exchange-traded fund Dogecoin ETF in 2025 ? Cryptocurrency experts believe that the change in attitude towards the sector in the US with the presidency of Donald Trump starting next year could positively influence the industry, suggesting that the successes with Bitcoin and Ethereum ETFs could be taken to other assets.

The launch of a Dogecoin ETF could see the cryptocurrency reach new heights amid increased investor adoption.