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.

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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. 

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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.

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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

The Dogecoin price dipped 2% during Sunday’s trading session to reach the $0.141 level. This slight pullback follows a strong recovery last week, giving buyers a chance to regain momentum. The recent rally was driven by Billionaire Elon Musk’s mention of “D.O.G.E.” during a Trump campaign event and, therefore, could lack sustainability for a higher price.

Is Dogecoin Price Overbought After a 30% Weekly Surge?

The ‘Uptober’ has recently returned to the crypto market as the leading digital asset, Bitcoin, hasting towards $70,000. Among top altcoins, the Dogecoin price showed a high momentum from $0.103 to $0.145, for 42.2% growth.

Elon Musk’s influence mainly drove this recovery after he mentioned “D.O.G.E.” during Trump’s Pennsylvania campaign event. Furthermore, the Dogecoin price prediction shows a decisive breakout from the resistance trendline of a symmetrical triangle pattern intact since August 2024. 

The chart setup drove a steady consolidation resonating between two converging trendlines, meant to recuperate the bullish momentum. However, the coin price stretched too far from the Exponential moving average, indicating the buyers have overextended the recovery trend, which needs a correction.

By press time, the DOGE price had traded at $0.14, while the market cap had rallied to $20.68 billion. Therefore, a potential pullback could plunge the asset 12% down to retest the breach triangle resistance at $130.

SHIB MVRV Spike Hints at Local Market Top

According to Santiment data, the 30-day Market Cap to Realized Cap ratio (MVRV) spiked to 14%, indicating that short-term traders are experiencing profit. While this trend may hint at a bullish outlook, the positive MVRV ratio often coincides with local market tops, as traders typically choose to book profits during these periods. 

This could increase selling pressure and trigger a short-term pullback before the market resumes its upward trend.

If the dogecoin price managed to sustain its recent breakout, the buyers could drive a rally to nearly $2 level, accounting for 50% growth potential. 

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.