Cryptocurrency analyst Bluntz has made a remarkable prediction about Dogecoin (DOGE). Based on the Elliott Wave Theory, he stated that the popular meme coin’s price could rise to $0.85. The current price is 49% below Dogecoin’s all-time high, which has sparked interest among investors.
Bluntz emphasized in his statements on social media platform X that Dogecoin has formed a strong support line at $ 0.339. Using Elliott Wave Theory, the analyst pointed to a target of $ 0.85 and suggested that this level could be the peak of a five-wave rise for DOGE. He also stated that although DOGE has been on a calm course throughout the week, he expects a more volatile movement towards the weekend.
“DOGE could start attracting liquidity over the weekend,” the analyst commented, noting that he foresees a new rally being triggered. According to Bluntz, a slow but steady price increase could turn into a parabolic rally.
However, while these projections are promising for DOGE investors, it should be noted that uncertainties continue due to the high volatility inherent in the cryptocurrency market. Bluntz's predictions recommend that investors be careful and cautious. Emphasizing that there are risks as well as opportunities in the market, the analyst urges investors to be careful.
While Dogecoin does indeed have the potential to reach $0.85, this is not a sure thing. Technical analysis, investor behavior, and general market psychology will be the main factors shaping price movements. Therefore, it is very important for investors to make strategic decisions by taking these elements into consideration.
Bluntz’s predictions remind us once again that there are risks to consider as well as opportunities in the cryptocurrency world. Therefore, it is very important to act cautiously and consciously when investing.