An analyst known as a “Master Trader” on the crypto exchange Bybit believes that Dogecoin (DOGE), the top memecoin, is about to experience a strong rally.

The analyst, who goes by the pseudonym Bluntz, has shared his bullish perspective on DOGE with his 287,200 followers on the social media platform X. Bluntz points out that DOGE appears to be incredibly bullish after breaking out from an Adam and Eve double-bottom pattern against Bitcoin (DOGE/BTC).

This breakout suggests that DOGE/BTC has reached a significant bottom and is now ready to embark on a new uptrend. Bluntz expresses his surprise that the rally has just begun, stating, “Tried to warn you all. Crazy to think this thing is still just getting started.”

Bluntz also analyzes DOGE against the US dollar and predicts that the altcoin has the potential to surge over 260% from its current levels. He mentions that the $1 mark is not just a meme, implying that it is a realistic target for DOGE.

As of now, Dogecoin is trading at $0.277, marking a 27% increase in the past day.

In addition to Dogecoin, Bluntz is keeping a close eye on Ethena (ENA), a synthetic dollar protocol on Ethereum (ETH). According to Bluntz, ENA is currently undergoing a bullish reversal after breaking out from an inverse head-and-shoulders (IHS) pattern.

The breakout from this technical pattern indicates that ENA has entered a bull market. Bluntz comments, “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.”

At the moment, ENA is valued at $0.55.

It’s important to note that the opinions expressed by Bluntz are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets.

Disclaimer: This translation is for informational purposes only and should not be considered as investment advice.