An analyst known as the “master trader” at cryptocurrency exchange Bybit believes that a wild rally is on the horizon for top memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz told his 287,200 followers on social media platform
The bullish structure suggests that DOGE/BTC has hit a big bottom and is ready to start a new uptrend.
“I was trying to warn everyone.
“It’s crazy to think this is still in its infancy.”
The bullish DOGE/BTC chart suggests that Dogecoin is positioned to outperform Bitcoin’s gains.
Looking at DOGE against the US dollar, Bluntz believes the altcoin has the fuel to surge more than 260% from current levels.
“I wish someone had played the DOGE drums for a while.
$1 is not the meme you think it is.”
As of this writing, Dogecoin is trading at $0.277, up more than 27% in the past day.
Bluntz also has his radar fixed on Ethena (ENA), the synthetic dollar protocol for Ethereum (ETH). According to analysts, ENA is experiencing a bullish reversal as it breaks out of an inverted head and shoulders (IHS) pattern.
A breakout of the technical pattern indicates that ENA has fully entered bull territory.
Blunts says:
“ENA is an extremely bullish high-period chart. We see a huge amount of confirmation that the IHS breakout is real. BTC hits an all-time high.
A setup like this feels like you can easily play multiple Xs.”
As of this writing, ENA is worth $0.55.
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