dailyhodl.com
A crypto strategist known for making timely altcoin calls believes that the top meme token Dogecoin ($DOGE) is gearing up for a breakout surge.
Pseudonymous analyst Bluntz tells his 316,700 followers on the social media platform X that $DOGE appears to be carving a local bottom en route for a bullish reversal.
The trader shares a chart suggesting that $DOGE seems to be printing an Adam and Eve pattern while flashing a completed ABC corrective move.
“$DOGE looking pretty solid here in my opinion after consolidating for two weeks after that capitulation event.
If there’s one saying that’s always stuck with me, it’s never short a dull market.”
Bluntz practices the Elliott Wave theory, which states that an asset tends to witness a five-wave rally after concluding an ABC-wave correction. Meanwhile, an Adam and Eve pattern suggests that an asset is bottoming out as bulls build a price floor in preparation for a leg up.
Based on the trader’s chart, he seems to suggest that $DOGE will rally to $0.34. At time of writing, Dogecoin is trading for $0.251.
Turning to layer-1 protocol Hyperliquid ($HYPE), Bluntz predicts that crypto bulls with positions in the altcoin are about to see a deep drawdown.
“Who’s ready to get hyper-liquidated?”
Based on the trader’s chart, he seems to predict that $HYPE will crush its diagonal support and fall below $20. At time of writing, $HYPE is trading for $24.14, down over 5% on the day.
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