An analyst known for making accurate crypto predictions is mapping out a potential price trajectory for Dogecoin’s (DOGE) surge to new all-time highs.
Under the pseudonym Bluntz, the analyst informs his 292,900 followers on X that Dogecoin appears ready for a new wave of upward momentum after hitting a local low around $0.339.
Bluntz shares a chart indicating that DOGE could reach a new record high of $0.85 before completing its five-wave rally.
“Nothing has changed, we just experienced a 23% dip on the lower time frames which I see as a wave four within a larger wave three impulse.
Once the next surge in DOGE begins, it may start drawing liquidity away from smaller meme coins again. The recent hype around them was likely due to DOGE remaining stable for five days in my view.
I believe this week will belong to DOGE.”
Bluntz follows the Elliott Wave theory, a technical analysis method that aims to forecast future price movements by tracking the psychological patterns of the market, often seen in waves. According to Elliott Wave principles, a bullish asset typically experiences a five-wave surge, with waves one, three, and five being upward movements and waves two and four being correction phases.
As of now, DOGE is trading at $0.372, down 49% from its peak of $0.731.
Diving deeper, Bluntz shares his projection for DOGE in the upcoming days.
“The ideal scenario for DOGE is a gradual climb over the next few days, laying the groundwork for another explosive breakout later in the week, similar to the previous one…
I believe DOGE will gently remind everyone who the leader is this week.”
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