Crypto Strategist: It's Almost Time for Memecoins to Shine, Floki (FLOKI) and Dogecoin (DOGE) Printing Bullish Signals

A crypto strategist who has earned the “Master Trader” rank on the digital asset exchange Bybit thinks that it is almost time for memecoins to shine.

A crypto strategist who has ascended to the rank of “Master Trader” on the digital asset exchange Bybit is keeping a close eye on memecoins, anticipating their time to shine.

The pseudonymous analyst, known as Bluntz, has 315,000 followers on the social media platform X, where he recently shared his analysis of several meme tokens, including Floki (FLOKI). According to Bluntz, FLOKI is exhibiting a bullish divergence signal on its daily chart.

A bullish divergence is typically interpreted as a bullish reversal signal, indicating that an asset is gaining momentum despite a flattening or decreasing price movement.

“There is monster FLOKI bullish divergence printing here after it swept a MAJOR level, could print today or tomorrow,” Bluntz noted. “Love it or hate it, the meme meta is probably staging a comeback here.”

At the time of writing, FLOKI is trading at $0.000098.

Another memecoin on Bluntz's radar is Dogecoin (DOGE), which he believes to have completed an ABC corrective wave against the US dollar and Bitcoin (DOGE/BTC).

Bluntz heavily incorporates the Elliott Wave theory into his analysis, which suggests that a bullish asset tends to experience a fresh five-wave rally following an ABC pullback. The analyst anticipates a potential 200% surge for Dogecoin.

“Memes largely out of favor here and getting dunked on big time but with the big dog DOGE looking like this, it may be time. HUGE ABC down on the [daily chart] on the USD and BTC pair. Potential 2-3x coming up.”

At the time of writing, DOGE is valued at $0.264.

Bluntz also reveals that he is closely monitoring the TOTAL3 chart, which tracks the market capitalization of all crypto assets excluding Bitcoin, Ethereum (ETH) and stablecoins. Traders often use TOTAL3 to gauge the performance of the altcoin market.

According to the analyst, TOTAL3 appears to be completing an ABC correction and is gearing up for a rally towards a fresh all-time high of $1.3 trillion.

“This bounce seemingly turning into a full-blown V reversal. TOTAL3 completely reclaimed the breakdown and looks like a… clean ABC. Very hard to not be bullish here.”

At the time of writing, TOTAL3 is trading at $889.814 billion.