An analyst known as a “Master Trader” at the cryptocurrency exchange Bybit believes furious rallies are in sight for top memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 287,200 followers on social media platform
The bullish structure suggests that DOGE/BTC has reached an important bottom and is ready to start a new uptrend.
“I tried to warn you all.
Crazy to think this thing has only just started.”
A bullish DOGE/BTC chart suggests that Dogecoin is positioned to surpass Bitcoin’s gains.
Looking at DOGE against the US dollar, Bluntz believes the altcoin has the fuel to skyrocket over 260% from current levels.
“If only someone had sat on the DOGE drum for a while.
$1 is not the meme you think it is.”
At the time of writing, Dogecoin is trading at $0.277, up over 27% in the past day.
Bluntz has also locked his radar on Ethena (ENA), a synthetic dollar protocol on Ethereum (ETH). According to the analyst, ENA is in the midst of a bullish reversal after breaking the inverse head and shoulders (IHS) pattern.
The breakout from the technical pattern suggests that ENA has fully entered bull territory.
Says Bluntz,
“ENA is a crazy bullish chart on a high time frame, we are seeing huge volume confirming that the IHS breakout is real. BTC is making all-time highs.
Setups like this feel like an easy multi-X play.”
At the time of writing, ENA is worth $0.55.
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Generated image: DALLE3