Cryptocurrency analyst Bluntz predicts that the price of meme coin Pepe (PEPE) could increase by 36% and also predicts that Bitcoin (BTC) will test the $ 100,000 level. Bluntz bases his predictions on market analysis using the Elliott Wave Theory and evaluates the movements of cryptocurrencies with this theory.$PEPE
Meme coins have gained great popularity in recent years, and investors are trying to profit from these volatile and risky assets. In addition to big projects like Dogecoin (DOGE) and Shiba Inu (SHIB), new projects have also started to enter the market rapidly. One of them is Pepe (PEPE). Bluntz draws investors’ attention to this meme coin, stating that Pepe’s current value could increase by more than 36%.$DOGE
Bluntz relies on the Elliott Wave Theory, which is widely used to analyze market movements. This theory suggests that prices in financial markets move in specific waves, and that these waves can form various combinations. Bluntz notes that Pepe’s current price action fits this model and argues that the meme coin is in an uptrend.
According to Elliott Wave Theory, an asset usually shows a five-wave uptrend followed by a three-wave corrective trend. These waves determine how the market will shape up. Bluntz believes that Pepe’s price action follows this exact pattern and that the current uptrend is a sign of a bigger uptrend in the future.
According to Bluntz, Pepe made a strong five-wave rally on the lower timeframes, followed by a clear three-wave retracement of the correction. Such price movements fully comply with the principles of Elliott Wave Theory. Bluntz predicts that if Pepe continues this rally, its price could rise above the $0.00003000 level. Currently trading at $0.00002197, this forecast indicates a significant upside potential for Pepe.
However, it is important to remember that meme coins are extremely volatile in nature, meaning Bluntz’s predictions present great opportunities but also great risks.
Another important asset that Bluntz focuses on is Bitcoin (BTC). As the leader of the cryptocurrency market, Bitcoin has the power to influence the movements of all other altcoins. Bluntz states that Bitcoin has recently completed the ABC corrective wave pattern of Elliott Wave Theory. This is an indication that Bitcoin is now ready to rise after experiencing a price pullback for a while.$BTC
The analyst states that after Bitcoin completes this corrective move, a five-wave upward movement will come into play. Bluntz thinks that Bitcoin will test the $100,000 level, which will be a significant resistance point. If Bitcoin manages to break out of this level, it could start a major bull rally in the market and be a critical turning point for Bitcoin investors.
According to Bluntz’s predictions, Pepe and Bitcoin could see significant price movements in the near term. Pepe is rising in line with Elliott Wave Theory, while Bitcoin is likely to approach $100,000. However, investors should be careful and prepared for possible risks due to the volatile nature of meme coins.