Top Trader Predicts Rallies for Two Dogecoin Rivals, Says Memecoin Season Is Heating Up
A dealer who precisely known as Bitcoin’s (BTC) 2018 bear market backside says he’s bullish on two memecoins.
Pseudonymous analyst Bluntz tells his 240,800 followers on the social media platform X that the Solana (SOL)-based meme token dogwifhat (WIF) has been printing bullish increased low setups every time the asset completes a three-wave corrective transfer.
Bluntz is a practitioner of the Elliott Wave principle, a technical evaluation method that makes an attempt to foretell future value motion by following crowd psychology that tends to manifest in waves.
Based on the idea, a bullish asset tends to witness a three-wave corrective transfer earlier than the following leg up.
Says Bluntz,
“WIF has primarily been buying and selling in a big accumulation base since inception, with fixed impulsive rises and fixed clear corrective three-wave strikes again down, every time forming a better low.
Ultimately, this base breaks out and strikes increased and plenty of can be shocked, however the indicators have been there.”
Trying on the analyst’s chart, he appears to recommend WIF is on the verge of breaking out from an ascending triangle sample en path to rallying towards his goal at $1.40.
At time of writing, WIF is price $0.507, up over 42% up to now day.
One other altcoin on the dealer’s radar is the memecoin Pepe (PEPE). Bluntz shares a chart that implies PEPE has accomplished a three-wave corrective transfer and is now poised to rally towards his target at $0.0000022.
“Good regular push increased on PEPE all weekend.
I like this setup loads, meme season seems like it’s heating up once more.”
At time of writing, PEPE is price $0.000001832, up over 30% within the final 24 hours.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Value Motion
Comply with us on Twitter, Facebook and Telegram
Surf The Each day Hodl Combine
Generated Picture: Midjourney
