A popular cryptocurrency analyst, known as Bluntz, is predicting a huge price jump for Dogecoin (DOGE). Bluntz, who boasts over 300,000 followers on X (formerly Twitter), believes DOGE is entering a major upward trend.
Dogecoin vs. Bitcoin: A Bullish Outlook
Bluntz’s analysis focuses on the relationship between Dogecoin and Bitcoin (DOGE/BTC). He uses Elliott Wave theory, suggesting that DOGE/BTC has completed a correction and is now poised for a significant rally. He projects that DOGE/BTC will reach a new all-time high, estimating a potential increase of 373% based on technical analysis. This translates to a DOGE/BTC price of 0.00002 BTC.
Bitcoin’s Role in the Dogecoin Prediction
Crucially, Bluntz’s prediction also hinges on the price of Bitcoin. He anticipates Bitcoin reaching prices well above $100,000, possibly even hitting $140,000. Considering this Bitcoin price surge, he adds another 45% to his DOGE/BTC projection, resulting in an overall increase of approximately 420% from current levels.
The Bottom Line: A $2.20 Price Target
While acknowledging the simplified nature of his calculations, Bluntz ultimately predicts a Dogecoin price of $2.20. This is a significant increase from the current price of around $0.445. He notes that while a $1 price target is often mentioned, his technical analysis points to a higher, more realistic target.
Disclaimer: This analysis is based on the opinion of a single analyst and should not be considered financial advice. Always conduct your own thorough research before making any investment decisions.
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