Top Trader Says Dogecoin and Shiba Inu Rival Has Started Push to New All-Time High, Outlines Targets for Bitcoin
A widely followed cryptocurrency analyst and trader is turning bullish on a Dogecoin ( DOGE ) and Shiba Inu ( SHIB ) rival.
The analyst pseudonymously known as Bluntz tells his 290,300 followers on social media platform X that the memecoin Pepe ( PEPE ) could soar more than 28% from its current value.
The analyst practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after completing an ABC move down.
“PEPE has now done a nice five up from the lows on low timeframes and the pullback from the highs was also a clear three-wave move down. The push into fresh all-time high looks like it has begun.”
Source: Bluntz/X
Looking at his chart, the analyst suggests Pepe may soar to more than $0.00003000 under the Elliott Wave theory principles for a bullish asset.
Pepe is trading for $0.00002339 at time of writing, up 14.2% in the last 24 hours.
Next up, the analyst says that Bitcoin ( BTC ) may have completed an Elliott Wave theory ABC corrective wave pattern on the one-hour timeframe and is now starting to print a five-wave pattern to the upside.
“That should be it for the BTC pullback in my opinion. Next up, the big $100,000 resistance.”
Source: Bluntz/X
Bitcoin is trading for $91,101 at time of writing, up 4.5% in the last 24 hours.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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