Pseudonymous Analyst Bluntz Thinks Dogecoin's (DOGE) Correction Is Over and Solana (SOL) Competitor Sei (SEI) Is Heating Up

An analyst known as a “Master Trader” on the crypto exchange Bybit thinks that Dogecoin’s (DOGE) correction is over.

A crypto analyst on the exchange Bybit believes that Dogecoin’s (DOGE) correction is complete.

The pseudonymous analyst, known as Bluntz, tells his 299,300 followers on the social media platform X that the top memecoin is in the early stages of a parabolic rally.

The trader shares a chart indicating that DOGE could rally past $1 by the time its five-wave rally concludes.

“Current DOGE wave four looks done here.

[DOGE] has been in an upwards sideways running flat correction for two weeks now and plenty of people have gotten bored and moved on to chase the next shiny thing.

In reality, the DOGE parabola has only just started, no profit-taking until $1 minimum in my opinion.”

Bluntz follows the Elliott Wave Theory, which suggests that a bullish asset tends to rally in five waves before undergoing an ABC correction. According to the theory, waves one, three and five are up impulses, while waves two and four are corrective periods.

At the time of writing, DOGE is trading at $0.388.

The trader is also bullish on layer-1 protocol and Solana (SOL) competitor Sei (SEI). According to the trader, SEI has broken out of a diagonal resistance on both the Bitcoin (SEI/BTC) and USD pairs.

“Take note of the things that barely dipped when BTC did, they full send once BTC resumes upwards.

SEI is on my hotlist as one of them.”

At the time of writing, SEI is trading at $0.685.

Zooming out to Bitcoin itself, the trader thinks that BTC will leave behind those who are waiting for lower levels.

“Likely that’s the pullback done on BTC here I think up from here and it ain’t going as low as people think.”

Based on the trader's chart, BTC appears to be completing an ABC correction and consolidating before surging past $100,000.

At the time of writing, Bitcoin is trading for $92,022.