A trader known for making timely altcoin calls reveals his true bull market price target for memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 300,100 followers on social media platform X that he thinks DOGE will go much higher than most people expect.
The analyst examines Dogecoin versus Bitcoin (DOGE/BTC) to predict the potential top of the memecoin bull market.
“DOGE/BTC, from a cycle perspective, is now in a monstrous uptrend, it has completed an ABC cycle lasting from 2021 to 2024 that is down 90%.
I would expect DOGE/BTC to reach an all-time high this cycle and a simple extension of 1.618 measured from the previous cycle is generally a good and simple metric.
This brings us to 0.00002 BTC, or 373% more.
The analyst practices Elliott Wave Theory, according to which an asset tends to continue its upward trend after making a three-part “ABC” correction.
While Bluntz believes DOGE/BTC will reach 0.00002 BTC, he points out that the US dollar value of DOGE will likely explode higher, given that he is also bullish on Bitcoin. He notes that Bitcoin will likely see prices well above $100,000 this cycle, suggesting that 0.00002 BTC will have a much higher dollar value.
“I also think BTC will reach around $140,000, possibly higher at the end of this cycle.
So let’s add another 45% on top of that 373%, which gives us about 420% (for culture) from current levels. The math is probably imperfect, but don’t really worry about making up your mind.
$1 is simple and cool to say, but the real goal is $2.20.
At the time of writing, Dogecoin is trading at $0.445.
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