Trader Predicts Positive Outlook for Dogecoin and Pepe
A cryptocurrency trader, known as Bluntz, who accurately predicted Bitcoin's price floor in 2018, now believes that Dogecoin (DOGE) is poised for a significant upward movement.
Bluntz, sharing insights with his 250,400 followers on the social media platform X, asserts that DOGE is well-positioned to see gains against both the US dollar and Bitcoin.
According to the trader, DOGE is set to embark on another bullish trend in both USD and BTC pairs following a corrective phase that began in early March.
$doge finally looks ready to rip higher again, nice big fuck off long drawn out abc down on the usd and btc pair after that initial feb impulse pic.twitter.com/54ni6jqYVw
— Bluntz (@Bluntz_Capital) March 20, 2024
Using the Elliott Wave theory as his basis, which suggests a five-wave rally after a three-wave ABC correction, Bluntz indicates a potential surge of over 50% for Dogecoin, projecting a rise above $0.24 from its current level.
READ MORE: Coinbase Plans to Add Dogecoin Futures
Bluntz also turns attention to another memecoin, Pepe (PEPE), suggesting that it appears poised for a surge to a new 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,” Bluntz states.
$pepe finally looking good for the next leg up, solid bounce from major support and still yet to put in a macro wave 5 higher from the lows. pic.twitter.com/Ne5eOSu3Mk
— Bluntz (@Bluntz_Capital) March 20, 2024
Based on Bluntz’s analysis, Pepe could climb near the $0.000014 level after completing a corrective wave four around $0.000006.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
