The cryptocurrency analyst, whom we know by the pseudonym Bluntz, made an optimistic prediction that the leading meme coin Dogecoin (DOGE) will enter a major uptrend soon. According to Bluntz’s analysis, DOGE is in a strong position against both the dollar and Bitcoin and has the potential to make serious gains in the coming days.
In his evaluation, the analyst pointed out that the three-wave correction process for DOGE, which started from the first week of March, was completed. After this correction, he predicted that DOGE would enter a new uptrend. “DOGE finally looks poised to move higher again, completing a long-running ABC in USD and BTC pairs after initial momentum in February,” Bluntz said. He expressed it as follows:
According to the analyst, it makes sense to rely on the Elliott Wave theory, which states that assets usually enter a five-wave rally after a three-wave ABC correction. Bluntz’s chart analysis suggests that Dogecoin could rise over 50% from current levels to above $0.24.
DOGE is trading at $0.163 at the time of writing.
Another meme coin on the analyst’s radar is Pepe (PEPE). According to the analyst, the PEPE cryptocurrency looks poised for a rally towards its historical high. Based on his analysis of Pepe’s price chart, Bluntz suggests that this rally is about to begin. According to Bluntz’s analysis, Pepe has recently made a strong bounce from the main support level, but there has not been a significant rise on the macro scale yet.
“Pepe is finally looking good for the next rally, having made a solid bounce off major support and yet to form a macro move up five from the lows.”
Bluntz’s to the graph According to the report, it appears that Pepe completed the fourth wave correction at approximately $0.000006 and is currently moving towards the $0.000014 level. This indicates that Pepe may make a significant price increase in the coming period.
PEPE is trading at $0.000008 at the time of this writing.
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