Dogecoin Set for Potential Breakout Surge

A crypto strategist known for making timely altcoin calls believes that the top meme token Dogecoin (DOGE) is gearing up for a breakout surge.

Pseudonymous analyst Bluntz tells his 316,700 followers on the social media platform X that DOGE appears to be carving a local bottom en route for a bullish reversal.

The trader shares a chart suggesting that DOGE seems to be printing an Adam and Eve pattern while flashing a completed ABC corrective move.

> “DOGE looking pretty solid here in my opinion after consolidating for two weeks after that capitulation event.”
>
> “If there’s one saying that’s always stuck with me, it’s never short a dull market.”

Source: Bluntz/X

Bluntz practices the Elliott Wave theory, which states that an asset tends to witness a five-wave rally after concluding an ABC-wave correction. Meanwhile, an Adam and Eve pattern suggests that an asset is bottoming out as bulls build a price floor in preparation for a leg up.

Based on the trader’s chart, he seems to suggest that DOGE will rally to $0.34. At time of writing, Dogecoin is trading for $0.251.

Turning to layer-1 protocol Hyperliquid (HYPE), Bluntz predicts that crypto bulls with positions in the altcoin are about to see a deep drawdown.

> “Who’s ready to get hyper-liquidated?”

Source: Bluntz/X

Based on the trader’s chart, he seems to predict that HYPE will crush its diagonal support and fall below $20. At time of writing, HYPE is trading for $24.14, down over 5% on the day.

Generated Image: Midjourney