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An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies.
Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).
The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction.
Says Bluntz,
“DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done.
I have been waiting for this one to cool off to start bull posting again and I think the time has come.”
Looking at the trader’s chart he seems to predict that DOGE/BTC will soar to as high as 0.000008 BTC ($0.73). At time of writing, DOGE is trading at $0.365.
Turning to Bitcoin itself, the analyst believes that BTC has started a fresh five-wave surge in the lower time frame, targeting $100,000.
“So far so good.”
At time of writing, Bitcoin is trading for $90,227.
As for the memecoin Pepe (PEPE), Bluntz says that the altcoin is likely en route to $0.00003.
“Don’t fade the magic PEPE squiggles.”
At time of writing, PEPE is worth $0.0000214.
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Generated Image: MidjourneyShutterstock/MrArtHit
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