A pseudonymous crypto analyst known for accurate market predictions is forecasting a significant rally for Dogecoin (DOGE), potentially propelling the meme coin to unprecedented heights.
Dogecoin's Potential Breakout
Analyst Bluntz, followed by over 292,900 traders on X (formerly Twitter), identifies a clear bullish pattern for DOGE after it established a local bottom near $0.339. His technical analysis suggests:
- Five-wave Elliott Wave structure indicating a strong upward impulse.
- Projected all-time high of $0.85 upon completing the rally.
- Current consolidation as a temporary wave four correction before the next surge.
Bluntz notes:
"Once the next DOGE leg-up starts, it will probably begin sucking liquidity out of smaller memes again. This week will be a DOGE week."
👉 Discover why Dogecoin remains a dominant force in crypto
Elliott Wave Theory Explained
The Elliott Wave principle analyzes market psychology through price waves:
- Impulse waves (1, 3, 5): Drive prices upward.
- Corrective waves (2, 4): Brief pullbacks before resuming the trend.
Bluntz emphasizes DOGE’s current position within wave three, often the most powerful phase in a bullish cycle.
Short-Term Outlook
Key expectations for DOGE in the coming days:
- Gradual upward grind to build momentum.
- Parabolic breakout later in the week, mirroring past rallies.
Bluntz adds:
"DOGE is gonna gently remind everyone who the king is this week."
At press time, DOGE trades at $0.372**, down **49%** from its all-time high of **$0.731.
FAQs
Q: What is Elliott Wave Theory?
A: A technical analysis method predicting price movements based on crowd psychology and wave patterns.
Q: How high could DOGE go?
A: Bluntz projects a new ATH of $0.85 if the five-wave pattern completes.
Q: Why is DOGE consolidating now?
A: This is likely a wave four correction before the next upward surge.
👉 Learn how to capitalize on crypto trends
Conclusion
Dogecoin’s blend of meme appeal and strong technical signals positions it for a potential historic rally. Traders are watching for the next breakout to confirm this bullish trajectory.
Keywords: Dogecoin, DOGE price prediction, Elliott Wave theory, meme coins, crypto trading, Bluntz analysis, DOGE breakout
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