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A trader known for making timely altcoin calls is revealing his true bull market price target for memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 300,100 followers on the social media platform X that he believes DOGE will go much higher than most people expect.
The analyst looks at Dogecoin versus Bitcoin (DOGE/BTC) to forecast the memecoin’s potential bull market top.
“DOGE/BTC from a cycle perspective is now in a monster uptrend, it did a cycle ABC lasting from 2021-2024 which drew down 90%.
I would expect DOGE/BTC to hit an all-time high this cycle and a simple 1.618 extension measured from the prior cycle is typically a good and simple measurement.
That takes us to 0.00002 BTC which is 373% higher.”
The analyst practices Elliott Wave theory, which states that an asset tends to continue its uptrend after completing a three-part “ABC” correction.
While Bluntz thinks that DOGE/BTC will soar to 0.00002 BTC, he highlights that DOGE’s US dollar value will likely explode higher, given that he’s also bullish on Bitcoin. He notes that Bitcoin will likely see prices well above $100,000 this cycle, suggesting that 0.00002 BTC will have a much higher dollar value.
“I also think BTC is going to about $140,000-ish maybe higher by the time this cycle ends.
So let’s whack another 45% on top of that 373%, which gives us around about 420% (for the culture) from current levels, math is probably flawed but don’t really care you get the picture.
$1 is simple and cool to say but the real target is $2.20.”
At time of writing, Dogecoin is trading for $0.445.
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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.
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