A crypto veteran who has earned the “Master Trader” rank on the digital asset exchange Bybit is mapping a bullish path forward for top memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 285,600 followers on the social media platform X that DOGE looks strong on all time frames.
The trader shares a chart suggesting that DOGE has taken out a diagonal resistance that had persisted for about six months.
“Looks to me like DOGE is sucking liquidity out of the entire meme ecosystem right now.
Nothing looks as bullish to me as DOGE does on all the timeframes.
DOGE used to do this in altseasons past where it would run hard and nothing else would move.
Definitely having a deja vu moment.”
The trader shares another chart suggesting that DOGE could clear its resistance at around $0.228.
“DOGE.”
At time of writing, DOGE is trading for $0.144.
Bluntz is also bullish on fellow memecoin Floki (FLOKI). According to the analyst, FLOKI needs to take out its immediate resistance at $0.00018 to spark rallies to all-time highs.
“Macro ABC on FLOKI looks done with a three-month accumulation break inching closer every day, once it gives way, we’ll be at fresh all-time highs fairly quickly, in my opinion.
Have added some today to long-term non-trading bags.”
Bluntz practices the Elliott Wave theory, which states that a bullish asset often witnesses a new uptrend after completing an ABC correction. Looking at the trader’s chart, he seems to predict that FLOKI will rise to fresh record highs of $0.0005.
At time of writing, FLOKI is worth $0.000158.
Generated Image: Midjourney