A crypto trader who called Bitcoin’s (BTC) 2018 price floor thinks that top memecoin Dogecoin (DOGE) is gearing up to witness a big upside move.
The analyst pseudonymously known as Bluntz tells his 250,400 followers on the social media platform X that DOGE is in a solid position to print gains against both the US dollar and Bitcoin.
[adinserter block="1"]According to the top trader, DOGE is primed to start another leg up in both the USD and BTC pairs after completing a three-wave correction that started in the first week of March.
“DOGE finally looks ready to rip higher again, nice big f**k off long drawn-out ABC down on the USD and BTC pairs after that initial February impulse.”
The trader relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally after a three-wave ABC correction. Based on his chart, it appears that he is suggesting that Dogecoin could surge by over 50% from the current level and rise above $0.24.
DOGE is trading at $0.163 at time of writing.
Next up is fellow memecoin Pepe (PEPE). According to Bluntz, the DOGE rival looks ready to ignite a surge to a fresh all-time high.
“Pepe finally looking good for the next leg up, solid bounce from major support and still yet to put in a macro wave five higher from the lows.”
From Bluntz’s chart, it appears that the pseudonymous analyst sees Pepe rising close to the $0.000014 level after completing a wave four correction at around $0.000006.
PEPE is trading at $0.000008 at time of writing.
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