A trader known for making timely altcoin calls has revealed his actual bull market price target for memecoin Dogecoin (DOGE).
Household analyst Bluntz tells his 300,100 followers on social media platform X that he believes DOGE will rise much higher than most people expect.
Analyst predicts a potential bull market high for Memecoin by comparing Dogecoin to Bitcoin (DOGE/BTC).
“From a cycle perspective, DOGE/BTC is currently in a massive uptrend, down 90% in the ABC cycle, which lasts from 2021 to 2024.
I expect DOGE/BTC to hit all-time highs this cycle and the simple 1.618 extension measured in previous cycles is usually a good and simple measure.
That puts it at 0.00002 BTC, 373% higher.”
Analysts practice the Elliott Wave Theory, which states that assets tend to continue their upward trends even after completing a three-part “ABC” correction.
Bluntz believes that DOGE/BTC will soar to 0.00002 BTC, but emphasizes that it is likely that DOGE will rise higher against the US dollar, given that he is also bullish on Bitcoin. He said Bitcoin will likely see prices well above $100,000 this cycle, suggesting that 0.00002 BTC will have a much higher dollar value.
“I also think BTC will be around $140,000 higher by the end of this cycle.
So let’s add an additional 45% to 373%. This gives about 420% (for culture) from current levels. The math may be flawed, but don’t worry too much about understanding the pictures.
“$1 is simple and nice, but the real goal is $2.20.”
As of this writing, Dogecoin is trading at $0.445.
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