Cryptocurrency enthusiasts are abuzz with the latest predictions for meme-inspired coins, as a renowned market analyst suggests a notable surge in value for both Dogecoin (DOGE) and a newer entrant, Pepe (PEPE). With meme coins known for their volatility and the potential for rapid price changes based on social sentiment, these projections have garnered significant attention. Dogecoin, in particular, has often been influenced by high-profile endorsements, including those from Tesla CEO Elon Musk.
Surge on the Horizon for Dogecoin
The reputed analyst, known for his successful forecast of Bitcoin‘s bottom in 2018, indicates that Dogecoin is on the cusp of a substantial price increase. The cryptocurrency, leading the meme coin sector by market capitalization, appears primed for a bullish run, with the potential to ascend in value against both the US dollar and Bitcoin.
Bluntz, the analyst in question, has shared insights on social media pointing to Dogecoin’s readiness for an upward trajectory. An analysis using the Elliott Wave theory suggests that Dogecoin is concluding a three-wave correction phase, which sets the stage for a remarkable five-wave rally.
Elaborating on his technical analysis, Bluntz posits that Dogecoin could rise above the $0.24 mark, translating to a leap of over 50% from its present value. This prediction aligns with Dogecoin’s current performance, which has seen a 5.83% uptick to a trading price of $0.16189.
Pepe Coin Poised for a Leap
Turning to another meme coin, Bluntz also scrutinized Pepe (PEPE), which seems to be gearing up for a significant rally that could approach its historical peak. He suggests that, based on its current positioning and market dynamics, PEPE could ascend to nearly double its present value.
The graphical data presented by Bluntz hints at a potential increase for PEPE to approximately $0.000014 after concluding its fourth wave of correction, marking a 75% rise compared to its current trading price of $0.0000075. Such an uptick would align with the broader trends of volatility and growth potential in the meme coin market segment.