An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies.

Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).

The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction.

Says Bluntz,

“DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done.

I have been waiting for this one to cool off to start bull posting again and I think the time has come.”

Looking at the trader’s chart he seems to predict that DOGE/BTC will soar to as high as 0.000008 BTC ($0.73). At time of writing, DOGE is trading at $0.365.

Turning to Bitcoin itself, the analyst believes that BTC has started a fresh five-wave surge in the lower time frame, targeting $100,000.

“So far so good.”

At time of writing, Bitcoin is trading for $90,227.

As for the memecoin Pepe (PEPE), Bluntz says that the altcoin is likely en route to $0.00003.

“Don’t fade the magic PEPE squiggles.” 

At time of writing, PEPE is worth $0.0000214.

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Trump’s plan for the U.S. Department of Government Efficiency (DOGE) is to reduce federal government spending and cut some unnecessary regulations. This idea is now being supported by Coinbase CEO Brian Armstrong.

According to Brian Armstrong, CEO of Coinbase, the idea of creating a new Department of Government Efficiency (DOGE) is a lifetime opportunity. He mentioned on X post Nov. 17, that the agency could increase economic freedom in the U.S. and cut the size of government back to health.

Armstrong noted that government spending could be scrapped by only 10% of the gross domestic product (GDP). While the U.S. government used federal spending more than doubled in the past few years. Therefore, he suggests that the constitution needs to be amended.

He mentions that the unbalanced federal budget makes the congress members who vote for it have no right to the next term election. For that reason, the government needs to have the right incentives to control the budget in the long term.

Armstrong also explored the idea of a U.S. sovereign wealth fund, where every citizen could contribute to the funding and they would have a share. The budget surplus from the fund could be used as a dividend.

Donald Trump’s Vision of DOGE

Earlier last week, on Nov. 13, U.S. President-elect Donald Trump officially announced Elon Musk as the leader of a newly created agency, the Department of Government Efficiency (DOGE).

This brand-new agency was inspired by Dogecoin and Musk will be accompanied by American entrepreneur and Republican Vivek Ramaswamy.

Musk and Ramaswamy were expected to cut wasteful expenditures, restructure federal agencies, and cut unnecessary regulations. Trump mentioned that this agency would bring a shockwave to the system, but potentially would become “The Manhattan Project” of our time.

Since Trump won the election and announced the new agency, Dogecoin has seen a significant increase of 163% in the past month and a rise in the price from $0.13 to $0.36. The Dogecoin has already been projected to hit $1 in the future.

Multiple valuable meme coins set new all-time high prices on Friday and Saturday after others did so earlier this week, as the broader post-election crypto market spike—and particularly the resurgence of original meme coin Dogecoin—drove demand for the volatile assets.

Bonk (BONK), the second-largest Solana meme coin by market cap, hit a new high of $0.000047 on Friday, breaking a record from May—and then pushed even higher on Saturday, jumping to a new all-time mark above $0.000049. It’s currently up 120% over the last week, per data from CoinGecko.

The pump came after the project launched a campaign to burn up to 1 trillion BONK—over $39 million worth at present—by Christmas Day based on various engagement criteria, prompting fans and community members to complete social media tasks. Burning tokens shrinks the token supply, boosting scarcity and potentially increasing the price as a result.

Other major meme coins similarly hit high marks on Friday without such schemes, however. Brett (BRETT), a meme coin on Ethereum layer-2 network Base, peaked at a new high above $0.19 late Friday, while Mog Coin (MOG) jumped to a new record price of $0.0000029.

A couple more recent meme coin sensations also hit new highs, such as Goatseus Maximum (GOAT)—a token conceptualized by an AI chatbot, but created by a human—which jumped to $1.30 on Saturday. And Moo Deng (MOODENG), a Solana token inspired by the baby pygmy hippopotamus that recently went viral, set a new peak price of $0.68.

Earlier this week, Pepe (PEPE), Cat in a Dog’s World (MEW), and Fwog (FWOG) all set new record prices. Other notable meme coins have gotten close to their respective records, too, such as Solana’s Dogwifhat (WIF).

The meme coin market cap comes after Dogecoin (DOGE)—the original meme coin—spiked to a three-year high price of about $0.43 earlier this week. The DOGE resurgence came amid ties to Elon Musk (as usual), who will co-lead a new government effort under President-elect Donald Trump called the Department of Government Efficiency—yes, the D.O.G.E.