A trader known for his timely altcoin calls reveals his real bull market price target for memecoin Dogecoin (DOGE).
Pseudonymous analyst Bluntz tells his 300,100 followers on the social media platform X that he believes DOGE will go much higher than most people expect.
The analyst looks at Dogecoin vs. Bitcoin (DOGE/BTC) to predict the memecoin’s potential bull market top.
“DOGE/BTC is now in a monstrous uptrend from a cycle perspective, it went through a cycle ABC that lasted from 2021-2024 and dropped 90%.
I would expect DOGE/BTC to reach an all-time high this cycle and a simple extension of 1.618, measured against the previous cycle, is generally a good and simple measurement.
That brings us to 0.00002 BTC, which is 373% higher.”
The analyst applies Elliott Wave theory, which states that an asset tends to continue its uptrend after completing a three-part ‘ABC’ correction.
Although Bluntz thinks DOGE/BTC will rise to 0.00002 BTC, he emphasizes that DOGE’s US dollar value is likely to explode higher as he is also bullish on Bitcoin. He notes that Bitcoin will likely see prices above $100,000 this cycle, suggesting that 0.00002 BTC will have a much higher dollar value.
“I also think BTC will be around $140,000 or maybe higher by the time this cycle ends.
So let’s slap another 45% on top of that 373%, which gives us about 420% (for culture) over current levels. Math is probably flawed, but it doesn’t matter if you understand the picture.
$1 is simple and cool to say, but the real goal is $2.20.”
At the time of writing, Dogecoin is trading at $0.445.
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Generated image: Midjourney
