A widely respected cryptocurrency analyst and trader is taking a bullish view on rivals Dogecoin (DOGE) and Shiba Inu (SHIB).
An analyst known by the pseudonym Bluntz told his 290,300 followers on social media platform X that memecoin Pepe (PEPE) could rise more than 28% from its current value.
Analysts practice the Elliott Waves theory which states that bullish assets tend to witness a five-wave upward move after completing an ABC decline.
“PEPE is now a good 5 from the low on the lower time frame and the pullback from the high was also a clear three-wave decline. The push towards new all-time highs appears to have begun.”
Looking at his charts, the analyst suggests that Pepe could soar above $0.00003000, following Elliott Wave theory principles for bullish assets.
At the time of writing, Pepe is trading at $0.00002339, up 14.2% in the last 24 hours.
Next, the analyst says Bitcoin (BTC) may have completed Elliott Wave Theory’s ABC corrective wave pattern on an hourly basis and is now starting to print a five-wave pattern to the upside.
“I think that’s what the BTC drop should be. Next is the big resistance at $100,000.”
Bitcoin is trading at $91,101 at the time of writing, up 4.5% in the last 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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