Top Analyst Says Dogecoin Parabolic Rally Has Just Started, Places Solana Rival on Altcoin Hotlist

An analyst referred to as a “Grasp Dealer” on the cryptocurrency trade Bybit thinks the Dogecoin (DOGE) correction is over.

Pseudonymous analyst Bluntz tells his 299,300 followers on social media platform X that the highest memecoin’s parabolic rally continues to be in its infancy.

The dealer shares a chart suggesting that DOGE might rise above $1 earlier than the five-wave rally is over.

“The present DOGE wave 4 appears to be like like this.

[DOGE] has been in an upward sideways flat correction for 2 weeks now and many individuals have gotten bored and moved on to chase the subsequent shiny factor.

In actuality, the DOGE parabola has solely simply begun, and in my view there isn’t a revenue taking doable as much as a minimal of $1.”

Bluntz applies the Elliott Wave concept, which states {that a} bullish asset tends to witness five-wave peaks earlier than witnessing an ABC correction. In keeping with the speculation, waves one, three and 5 are upward bursts, whereas waves two and 4 are correction durations.

On the time of writing, DOGE is buying and selling at $0.388.

The dealer can also be bullish on the Layer-1 protocol and Solana (SOL) competitor Sei (SEI). In keeping with the dealer, SEI has taken diagonal resistance on the Bitcoin (SEI/BTC) and US greenback pairs.

“Discover the issues that hardly dropped when BTC did, they are going to be absolutely shipped as soon as BTC goes again up.

SEI is certainly one of them on my sizzling listing.”

On the time of writing, SEI is buying and selling at $0.685.

Taking a look at Bitcoin itself, the dealer thinks that BTC will go away these ready for decrease ranges.

“In all probability that is the BTC pullback right here, I believe from right here and it would not go as little as folks assume.”

Based mostly on the dealer’s chart, BTC seems to have accomplished an ABC correction and is now consolidating earlier than breaking above $100,000.

On the time of writing, Bitcoin is value $92,022.

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