Pseudonymous Analyst Bluntz Maps Out a Potential Price Path for Dogecoin's (DOGE) Rally to Fresh All-Time Highs

The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge.

A cryptocurrency trader known for his timely calls on the markets is sharing his outlook for Dogecoin (DOGE) as the meme coin attempts to rally to new all-time highs.

The pseudonymous analyst, known as Bluntz, has been following DOGE’s price action closely, and he recently shared his analysis with his 292,900 followers on the social media platform X.

According to Bluntz, DOGE appears to be gearing up for a new wave of bullish momentum after forming a local bottom at around $0.339. He shared a chart suggesting that the meme coin could rally to a new all-time high of $0.85 before completing its five-wave surge.

“Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse.

Once the next DOGE leg-up starts, it will probably start to suck liquidity out of smaller memes again. The only reason they went so hard this week was because DOGE has been chilling for five days in my opinion.

I think this week will be a DOGE week.”

Bluntz uses the Elliott Wave theory to analyze cryptocurrency markets. This technical analysis approach aims to predict future price movements by identifying crowd psychology, which tends to manifest in waves.

According to Elliott Wave principles, a bullish asset will often experience a five-wave rally, with waves one, three and five being strong upward price movements and waves two and four being corrective periods.

At the time of writing, DOGE is trading at $0.372, down 49% from its all-time high of $0.731.

Bluntz also shared his shorter-term outlook for DOGE, zooming in on the meme coin’s price action over the next few days.

“Ideal scenario for DOGE is a slow grind up over the next few days which could set the stage for another parabolic breakout later in the week similar to the last…

I think DOGE is gonna gently remind everyone who the king is this week.”

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