A well-known cryptocurrency trader stated that a memecoin with a large capitalization may increase in value again. Pseudonim analyst Bluntz shares Dogecoin with his 303,200 followers on social media platform $0.448698‘s Bitcoin 
$99,755.0 He stated that he could show a superior performance against him.
DOGE’s Potential Rise
Bluntz thinks DOGE will make a strong upward move after breaking the three-week accumulation level. This move is expected to occur if the asset completes a triangle formation in an uptrend.
“I repeat like a broken record, but once DOGE breaks this three-week accumulation, there will be a violent upward move.”
Bluntz believes that rallies could begin again after Bitcoin completes an ABC correction on the four-hour chart. It is stated that Bitcoin is currently trading at approximately $99,284.
“An excellent liquidation candle for BTC, I think a running straight ABC is complete.”
The trader stated that dogwifhat (WIF) coin is ready to break out of the reaccumulation pattern and form higher lows with a bullish trend. WIF may experience a breakout once it surpasses the $3.50 level.
“This WIF backlog is ready to explode.”
Analyst’s View
Applying the Elliott Wave theory, Bluntz suggests that in a bull market, assets will see further rallies following the ABC surge. He stated that he expects BTC to trade above $112,000.
It is emphasized that technical analysis plays an important role in investment decisions in crypto markets. Analysts try to predict future price movements by evaluating market trends and formations.
Investors are recommended to act by taking market analysis into consideration, but without neglecting to do their own research. The volatile structure of cryptocurrencies brings with it high risks and potential returns.
As a result, the upward potential of memecoins such as DOGE and WIF based on technical analysis attracts attention. While Bitcoin is expected to start rallying again, it is important for investors to follow the market dynamics closely.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
