Analyst Predicts Major Dogecoin Rally and Bullish Reversal for Ethena

A well-known analyst, who goes by the name “Master Trader” on the Bybit crypto exchange, is predicting some exciting rallies for Dogecoin (DOGE), a popular memecoin.

Bluntz, the pseudonymous analyst, shares his insights with over 287,200 followers on social media platform X. He believes that DOGE looks incredibly bullish after breaking out from an Adam and Eve double-bottom pattern against Bitcoin (DOGE/BTC). This pattern suggests that DOGE/BTC has hit a significant bottom and is ready to start climbing.

He said, “Tried to warn you all. Crazy to think this thing is still just getting started.” This bullish chart indicates that Dogecoin could potentially outperform Bitcoin's gains. When looking at DOGE against the US dollar, Bluntz thinks this altcoin could soar over 260% from its current price.

“If only someone had been banging the DOGE drum for some time now. $1 is not the meme you think it is,” he added. Right now, Dogecoin is trading at $0.277, having jumped more than 27% in just one day.

But that’s not all. Bluntz is also keeping an eye on Ethena (ENA), a synthetic dollar protocol on Ethereum (ETH). He points out that ENA is experiencing a bullish reversal after breaking out from an inverse head-and-shoulders pattern. This breakout signals that ENA has entered a bullish phase.

Bluntz remarked, “ENA is a crazy bullish high timeframe chart. We see huge volume confirming the IHS breakout is real. BTC is making all-time highs. Setups like this feel like easy plays for multiple Xs.” Currently, ENA is valued at $0.55.