A widely followed cryptocurrency analyst and trader is turning bullish on a Dogecoin (DOGE) and Shiba Inu (SHIB) rival.
The analyst pseudonymously known as Bluntz tells his 290,300 followers on social media platform X that the memecoin Pepe (PEPE) could soar more than 28% from its current value.
The analyst practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after completing an ABC move down.
“PEPE has now done a nice five up from the lows on low timeframes and the pullback from the highs was also a clear three-wave move down. The push into fresh all-time high looks like it has begun.”
Looking at his chart, the analyst suggests Pepe may soar to more than $0.00003000 under the Elliott Wave theory principles for a bullish asset.
Pepe is trading for $0.00002339 at time of writing, up 14.2% in the last 24 hours.
Next up, the analyst says that Bitcoin (BTC) may have completed an Elliott Wave theory ABC corrective wave pattern on the one-hour timeframe and is now starting to print a five-wave pattern to the upside.
“That should be it for the BTC pullback in my opinion. Next up, the big $100,000 resistance.”
Bitcoin is trading for $91,101 at time of writing, up 4.5% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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