dailyhodl.com
A crypto strategist who accurately called the bottom of Bitcoin’s ($BTC) 2018 bear market says he’s bullish on a duo of memecoins including Dogecoin ($DOGE).
Pseudonymous analyst Bluntz tells his 244,200 followers on the social media platform X that dogwifhat ($WIF) continues to flash signs of strength even after a marketwide correction.
“The $WIF turbo V reversal here is pretty amazing. The next leg up is gonna be a monster.”
Bluntz practices the Elliott Wave theory, which tries to predict future price actions by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave rally after completing an ABC corrective move.
The analyst also shares a chart suggesting that $WIF could soar to around $3.50 before completing its five-wave surge.
“This is looking like the first macro wave four $WIF has had from inception with many more legs higher to go.
Dips like these are a GIFT, don’t fumble it.”
At time of writing, $WIF is worth $1.62, up over 6% in the past day.
Looking at $DOGE, Bluntz expects the top memecoin to rally close to $0.18 before ending its five-wave move to the upside.
“Yes, $DOGE is like the $BTC of memecoins but there’s no way it lets $WIF have all the fun.
Next leg up soon.”
At time of writing, $DOGE is trading at $0.153.