A cryptocurrency strategist who correctly called the bottom of Bitcoin’s (BTC) 2018 bear market said he is bullish on the duo of memecoins, including Dogecoin (DOGE).
Household analyst Bluntz told his 244,200 followers on social media platform X that dogwifhat (WIF) continues to show signs of strength after a market-wide correction.
“The WIF Turbo V inversion here is truly amazing. The next leg is going to be a monster.”
Bluntz practices Elliott Wave theory, which attempts to predict future price movements by following herd psychology, which tends to manifest itself in waves. According to theory, bullish assets tend to witness a five-wave rally after completing an ABC corrective move.
The analyst also shares a chart that suggests WIF could soar to around $3.50 before completing a five-wave surge.
“This looks like the first macro wave that WIF has had, with more legs higher from the start.
These dips are a gift. “Don’t stutter.”
As of this writing, WIF is worth $1.62, up more than 6% in the past day.
Looking at DOGE, Bluntz expects the top memecoin to rebound close to $0.18 before ending its five-wave uptrend.
“Yes, DOGE is similar to BTC in memecoins, but there is no way WIF can have all the fun.
The next leg will be coming soon.”
As of this writing, DOGE is trading at $0.153.
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