An analyst known as a “Master Trader” on the crypto exchange Bybit believes that furious rallies are in sight for the top memecoin Dogecoin (DOGE ($0.17)).

Pseudonymous analyst Bluntz tells his 287,200 followers on the social media platform X that DOGE looks incredibly bullish after breaking out from an Adam and Eve double-bottom pattern against Bitcoin (DOGE/BTC ($99,784.00)).

The bullish structure suggests that DOGE/BTC has printed a major bottom and is poised to start a new uptrend.

“Tried to warn you all.

Crazy to think this thing is still just getting started.”

Source: Bluntz/X

A bullish DOGE/BTC chart suggests that Dogecoin is in a position to outpace Bitcoin’s gains.

Looking at DOGE against the US dollar, Bluntz believes that the altcoin has the fuel to skyrocket over 260% from current levels.

“If only someone had been banging the DOGE drum for some time now.

$1 is not the meme you think it is.”

Source: Bluntz/X

At time of writing, Dogecoin is trading for $0.277, up over 27% in the past day.

Bluntz also has his radar locked on Ethena (ENA ($0.30)), a synthetic dollar protocol on Ethereum (ETH ($3,246.22)). According to the analyst, ENA is in the midst of a bullish reversal after breaking out from an inverse head-and-shoulders (IHS) pattern.

The breakout from the technical pattern suggests that ENA has fully entered bull territory.

Says Bluntz,

“ENA is a crazy bullish high timeframe chart, we see huge volume confirming the IHS breakout is real. BTC making all-time highs.

Setups like this feel like easy plays for multiple Xs.”

Source: Bluntz/X

At time of writing, ENA is worth $0.55.

Generated Image: DALLE3

The post ‘Just Getting Started’ – Analyst Unveils Big Dogecoin Target, Sees ‘Crazy Bullish’ Chart for Ethereum-Based Coin appeared first on Crypto News Australia.