Widely Followed Cryptocurrency Analyst and Trader Turns Bullish on Dogecoin (DOGE) and Shiba Inu (SHIB) rival.
The pseudonymous analyst known as Bluntz tell his 290,300 followers on the social media platform X that the memecoin Pepe (PEPE) could soar by more than 28% from its current value.
The analyst puts into practice the Elliott Wave Theory, which states that a bullish asset tends to experience a five-wave bullish move after completing an ABC bearish move.
“PEPE has now made a nice five-wave rise from the short-period lows and the pullback from the highs was also a sharp three-wave decline. The push towards a new all-time high appears to have begun.
Looking at his chart, the analyst suggests that Pepe could climb to over $0.00003000 under the principles of Elliott Wave Theory for a bullish asset.
Pepe is trading at $0.00002339 at the time of writing, up 14.2% in the last 24 hours.
Then the analyst said this Bitcoin (BTC) may have completed an ABC corrective wave pattern of Elliott Wave Theory over a one hour time frame and is now beginning to print a five wave pattern upwards.
“In my opinion, this should be the case for the BTC withdrawal. Next, the big resistance of $100,000.
Bitcoin is trading at $91,101 at the time of writing, up 4.5% in the last 24 hours.
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