A widely followed cryptocurrency analyst and trader is leaning bullish on one memecoin while giving his forecast on two layer-1 altcoins.

The analyst pseudonymously known as Bluntz tells his 287,700 followers on the social media platform X that Dogecoin (DOGE) is “still turbo strong.”

Based on Bluntz’s chart on the four-hour time frame, it appears that the pseudonymous analyst is suggesting that Dogecoin could skyrocket by nearly 60% to reach a price of $0.22.

At time of writing Dogecoin is trading at $0.138, up by over 20% in the past two weeks.

The widely followed analyst further says,

“Dogecoin is the new mega large cap market leader.

You may not have realized it just yet but you will soon.”

Next up is Solana (SOL). Bluntz says that despite recent bearish sentiment in the crypto market, Solana only moved slightly downwards and did not fall below a major resistance level that it recently overcame on the daily time frame, an indication of its strength.

“Chance of fakeout diminishing by the day.”

Solana is trading at $166 at time of writing.

Next up is Sui (SUI). The pseudonymous analyst who regularly applies the Elliott Wave theory in his technical analysis says that Sui could be on the cusp of reaching a new all-time high in a five-wave pattern after a correction. According to the Elliott Wave theory, the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.

Based on Bluntz’s chart, it appears that the analyst is suggesting that Sui could hit a price of $2.80, about 48% above the current price.

Sui is trading at $1.89 at time of writing.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Despite the demand for meme coins waning, a crypto analyst has claimed that the Dogecoin price could be on the verge of a parabolic 5,202% price surge. Lately, the price of Dogecoin has been on a major decline, failing to break key resistance levels. However, with this new prediction by the crypto analyst, Dogecoin could see its value potentially increasing to new highs. 

Dogecoin Price To See Massive 5,202% Pump

A crypto analyst identified as ‘Zero’ on X (formerly Twitter) has expressed excitement about an incoming price pump for Dogecoin. The analyst suggested via his post that the Dogecoin price looks ready for a major rally, likely due to favorable market conditions and key technical indicators. 

Related Reading

Sharing a historical chart illustrating the DOGE price movements from as far back as 2014, Zero pinpointed periods when the Dogecoin price experienced massive rallies, specifically during the bull run that followed each Bitcoin halving event. 

From 2017 to 2018, the analyst disclosed that the price of Dogecoin had skyrocketed by 9,226.49%. After experiencing a bear market and a prolonged period of price fluctuations, the meme coin witnessed another massive surge between 2020 and 2021. At the time, Dogecoin had recorded a whopping 30,693.75% price increase, leading to its current all-time high of $0.74.

Based on these bullish trends, Zero has predicted that the Dogecoin price could see its next rally between 2024 and 2025. He forecasted that the popular meme coin could experience a whopping 5,202.19% price increase towards the $5 mark. This massive surge in value would effectively push Dogecoin above its previous all-time high in 2021. Moreso, assuming the cryptocurrency can hit $5, this would represent a 50X increase from its current price of $0.139. 

Moving forward, Zero has declared that this projected price increase has been a long-awaited moment for DOGE holders, suggesting that there has been a build-up of anticipation for a bull run over the past three years. In addition to a Dogecoin price increase, the analyst also expects Bitcoin (BTC) to surge to new highs. 

A DOGE ATH Could Be Closer Than Investors Think

Many analysts in the crypto market appear to be highly optimistic about Dogecoin’s price outlook. Notably, a crypto analyst on X, identified as ‘CEO’ has told his 471,600 followers that the Dogecoin price could be getting ready for another all-time high soon.

Related Reading

The analyst revealed that the meme coin’s price action is repeating a 2020 reversal box pattern, indicating a potential for a price breakout. Moreover, Dogecoin is forming three higher lows and already breaking resistance, signalling that a big pump might be underway. Sharing a price chart highlighting Dogecoin’s bullish technical indicators, the analyst has projected that the cryptocurrency could see a continuous surge above $0.4 soon. 

Featured image created with Dall.E, chart from Tradingview.com