Whales have taken great steps on the Dogecoin market, entering the recent drop in prices as an opportunity to buy a huge 750 million Doge.
As long as Dogecone has more than $ 0.19, analysts think that the configuration of a parabolic rally remains strong. Some even suggest a path to $ 10 if the momentum continues to build.
Crypto trader and pseudonym analyst Bluntz, known for his expertise in the theory of Elliott waves, believes Dogecoin finished an ABC corrective wave against the US dollar and Bitcoin. The theory of waves Elliott suggests that after an active as an asset completed an ABC decline, it tends to experience a new five wave rally.
Bluntz predicts that Dogecoin could increase up to 200% compared to current levels.
“The same largely from me and soak in a high time, but with the Big Dog Doge like that, it may be time. Huge ABC on (daily graph) on the USD and BTC pair. Potential 2-3X to come, ”said Bluntz.
At the time of writing the editorial staff, Dogecoin is negotiated at $ 0.24.
In addition to Dogecoin, Bluntz sees bullish signals in another token even – Floki. According to him, Floki prints a bullish divergence on the daily graphic, which could indicate an upcoming price reversal.
“There is an impression of raised divergence Monster Floki here after swept a major level, could print today or tomorrow,” wrote Bluntz. “I love or hate, the same same probably puts a return here.”
Bitcoin dropped by almost 9% in last week, while other high-level cryptocurrencies are even worse. XRP, Dogecoin and Cardano have been among the biggest losers in the last seven days, plunging around 26%.