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.”
Source: Bluntz/XBluntz 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.”
Source: Bluntz/XAt 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.”
Source: Bluntz/XAt time of writing, DOGE is trading at $0.153.
