A crypto strategist who accurately called the bottom of Bitcoin’s (BTC) 2018 bear market says he’s bullish on a duo of memecoins including Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 244,200 followers on the social media platform X that dogwifhat (WIF) continues to flash signs of strength even after a marketwide correction.
“The WIF turbo V reversal here is pretty amazing. The next leg up is gonna be a monster.”Â
Bluntz practices the Elliott Wave theory, which tries to predict future price actions by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave rally after completing an ABC corrective move.
The analyst also shares a chart suggesting that WIF could soar to around $3.50 before completing its five-wave surge.
“This is looking like the first macro wave four WIF has had from inception with many more legs higher to go.
Dips like these are a GIFT, don’t fumble it.”Â
At time of writing, WIF is worth $1.62, up over 6% in the past day.
Looking at DOGE, Bluntz expects the top memecoin to rally close to $0.18 before ending its five-wave move to the upside.
“Yes, DOGE is like the BTC of memecoins but there’s no way it lets WIF have all the fun.
Next leg up soon.”Â
At time of writing, DOGE is trading at $0.153.
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