Popular cryptocurrency analyst Bluntz, known for his predictions about Dogecoin (DOGE), predicts that the memecoin could reach historic highs in a bull market. With 300,100 followers on social media platform X, Bluntz expressed that the price of Dogecoin would increase significantly, surprising many investors. His technical analysis serves as an essential reference point for those interested in the cryptocurrency market.
Expectations for Historical Highs in DOGE/BTC Pair
Bluntz assessed Dogecoin's performance against Bitcoin, claiming that the DOGE/BTC ratio will reach an all-time high in the current cycle. Using Elliott Wave theory in his analysis, he predicts that the ratio will reach 0.00002 BTC, representing an increase of approximately 373%. According to him, the DOGE/BTC pair will reach an all-time high in this cycle, with expectations based on the 1.618 expansion measurement.
Bitcoin's $140,000 Level and Dogecoin's Target
Bluntz predicts that Bitcoin will surpass $100,000 this cycle, predicting that it could reach around $140,000. He believes that this increase will directly contribute to the dollar value of Dogecoin. Currently trading at $0.445, Bluntz points out that Dogecoin's realistic target is $2.20, with its value positively influenced by Bitcoin's rise.
The Importance of the Dogecoin and Bitcoin Relationship
According to the analyst, Bitcoin’s performance in the bull market is crucial for Dogecoin. Bluntz’s prediction has created excitement among Dogecoin investors, but he stressed the need for caution, given the volatile nature of the cryptocurrency market. This insightful analysis presents new opportunities for investors, but they are advised to back up Bluntz’s views with their own research, as Dogecoin’s future continues to be shaped by market dynamics and technical analysis.