Crypto Strategist Bluntz Believes It's Only a Matter of Time Before Dogecoin (DOGE) Erupts

Pseudonymous analyst Bluntz tells his 301200 followers on the social media platform X that DOGE only needs to take out its diagonal resistance at around $0.50 to ignite rallies

Pseudonymous crypto strategist Bluntz believes that Dogecoin (DOGE) is poised for a strong rally.

Bluntz, who boasts over 301,200 followers on the social trading platform X, shared his thoughts on DOGE’s price action in a recent post. He points out that the memecoin has been consolidating within a three-week range, with its diagonal resistance lying at around $0.50.

According to the strategist, a breakout from this range could lead to a violent rally, with DOGE potentially reaching a new all-time high. Bluntz’s chart suggests that the memecoin could rally to a peak above $0.90, indicating a surge of over 100% from its current price of $0.422.

Bluntz also anticipates a bullish December for crypto, with top memecoins driving the market. He highlighted the strong trading volume seen by DOGE, PEPE and SHIB on Monday, despite these coins having a lower market cap compared to others like Solana (SOL).

Bluntz adds that retail traders are showing interest in crypto, particularly in coins that emerged during the 2017 market cycle, known as “dino” coins. He observed that after retail traders are finally returning and showing interest in bidding on some assets, they’re bidding on the same assets that they bid on in the last cycle.

Bluntz concludes that this observation makes him think that when the memecoin bid inevitably comes back on, they’re going to bid on dino memes as well, which includes DOGE, SHIB and FLOKI, among others.