An expert trader, known as “Master Trader” on the popular crypto exchange Bybit, has shared insights on the potential future of Dogecoin (DOGE). The analyst, operating under the pseudonym Bluntz, with a significant following of 299,300 on the social media platform X, believes that DOGE’s recent correction phase is coming to an end.
Bluntz has confidently stated that the parabolic rally of Dogecoin is just beginning and could potentially reach above $1 before completing its five-wave surge. He shared a chart indicating that the current wave four of DOGE seems to have concluded, suggesting that the cryptocurrency has been in an upward sideways running flat correction phase for the past two weeks. Despite many investors losing interest and moving on to other opportunities, Bluntz remains bullish on DOGE, stating, “the DOGE parabola has only just started, no profit-taking until $1 minimum in my opinion.”
Utilizing the Elliott Wave theory, which predicts a series of five-wave surges followed by an ABC correction in a bullish asset, Bluntz remains optimistic about DOGE’s future trajectory. As of the latest update, Dogecoin is trading at $0.388.
In addition to Dogecoin, Bluntz has also expressed positive sentiments towards the layer-1 protocol Sei (SEI), a competitor to Solana (SOL). The trader highlighted that SEI has broken through a diagonal resistance on both Bitcoin (SEI/BTC) and US dollar pairs, indicating potential for further growth. SEI is currently trading at $0.685.
When analyzing Bitcoin, Bluntz believes that the recent pullback in BTC is likely over, stating, “I think up from here and it ain’t going as low as people think.” The trader’s chart for Bitcoin suggests that the cryptocurrency has completed an ABC correction and is now consolidating before making a surge above $100,000. Bitcoin is currently valued at $92,022.
In conclusion, the insights provided by Bluntz offer a unique perspective on the current trends in the cryptocurrency market, particularly focusing on Dogecoin, Sei, and Bitcoin. Investors and traders may find value in considering these expert opinions when making their investment decisions.
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