Crypto Analyst Sees Memecoins Staging a Comeback, Predicts Rallies for DOGE and FLOKI

An anonymous crypto analyst who has achieved the “Master Trader” status on the digital asset exchange Bybit is predicting a bright future for meme coins.

Known as Bluntz, the analyst informs his 315,000 followers on the social media platform X that meme token Floki (FLOKI) is showing a bullish divergence signal on the daily chart.

A bullish divergence is typically viewed as a signal for a bullish reversal, indicating that an asset is gaining momentum even if its price drops or remains stagnant.

Bluntz states,

“There is a significant FLOKI bullish divergence forming after hitting a MAJOR level, could manifest today or tomorrow.

Whether you love it or hate it, the meme sector is likely to make a comeback.”

As of the latest update, FLOKI is being traded at $0.000098.

Discussing another memecoin, Dogecoin (DOGE), Bluntz believes that the crypto asset has finished an ABC corrective wave against the US dollar and Bitcoin (DOGE/BTC).

Bluntz often relies on the Elliott Wave theory, suggesting that a bullish asset typically experiences a new five-wave rally following an ABC retracement.

According to the analyst, Dogecoin could potentially see a 200% increase.

“Memes are currently out of favor and facing significant challenges, but with Dogecoin showing promise, it might be time. A substantial ABC decline on the [daily chart] for both USD and BTC pairs.

Possible 2-3x growth ahead.”

At the time of writing, DOGE is priced at $0.264.

Bluntz also mentions monitoring the TOTAL3 chart, which tracks the market cap of all cryptocurrencies except Bitcoin, Ethereum (ETH), and stablecoins. TOTAL3 is used by traders to assess the performance of the altcoin market.

According to the analyst, TOTAL3 seems to have completed an ABC correction and is now positioned for a rally towards a new all-time high of $1.3 trillion.

“This rebound is evolving into a strong V-shaped recovery.

TOTAL3 has fully recovered from the breakdown and appears to have completed a clean ABC correction.

It’s hard not to be optimistic in this scenario.”