dailyhodl.com
An analyst known as a “Master Trader” on the crypto exchange Bybit believes that furious rallies are in sight for the top memecoin Dogecoin ($DOGE).
Pseudonymous analyst Bluntz tells his 287,200 followers on the social media platform X that $DOGE looks incredibly bullish after breaking out from an Adam and Eve double-bottom pattern against Bitcoin ($DOGE/$BTC).
The bullish structure suggests that $DOGE/$BTC has printed a major bottom and is poised to start a new uptrend.
“Tried to warn you all.
Crazy to think this thing is still just getting started.”
A bullish $DOGE/$BTC chart suggests that Dogecoin is in a position to outpace Bitcoin’s gains.
Looking at $DOGE against the US dollar, Bluntz believes that the altcoin has the fuel to skyrocket over 260% from current levels.
“If only someone had been banging the $DOGE drum for some time now.
$1 is not the meme you think it is.”
At time of writing, Dogecoin is trading for $0.277, up over 27% in the past day.
Bluntz also has his radar locked on Ethena ($ENA), a synthetic dollar protocol on Ethereum (ETH). According to the analyst, $ENA is in the midst of a bullish reversal after breaking out from an inverse head-and-shoulders (IHS) pattern.
The breakout from the technical pattern suggests that $ENA has fully entered bull territory.
Says Bluntz,
“$ENA is a crazy bullish high timeframe chart, we see huge volume confirming the IHS breakout is real. $BTC making all-time highs.
Setups like this feel like easy plays for multiple Xs.”
At time of writing, $ENA is worth $0.55.
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