An analyst who achieved the rank of “Master Trader” on crypto exchange Bybit believes that top memecoin Dogecoin (DOGE) is ready for more rallies.
Pseudonymous analyst Bluntz tells his 291,000 followers on social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).
The trader practices the Elliott Wave Theory, according to which a bullish asset tends to experience an upward movement in five waves after an “ABC” correction.
said Bluntz,
“DOGE/BTC looks sent again, swept through wave A lows and looks like a clear bearish move from ABC now complete.
I’ve been waiting for this one to calm down to start posting bulls again and I think the time has come.
Looking at the trader’s chart, he seems to predict that DOGE/BTC will reach 0.000008 BTC ($0.73). At the time of writing, DOGE is trading at $0.365.
As for Bitcoin itself, the analyst believes that BTC has started a new five-wave surge in a lower time frame, aiming for $100,000.
“So far, so good.”
At the time of writing, Bitcoin is trading at $90,227.
As for the memecoin Pepe (PEPE), Bluntz says the altcoin is likely on its way to $0.00003.
“Don’t make PEPE’s magic squiggles disappear.”
At the time of writing, PEPE is worth $0.0000214.
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