Investor Acquires 750 Million Dogecoin Amid Price Dip – A Sign of a Potential Surge?

A major investor has recently purchased 750 million Dogecoin (DOGE) despite its recent price decline. This move suggests that the investor sees a significant opportunity for gains if DOGE rebounds.

According to market analysts, as long as Dogecoin remains above $0.19 (approximately IDR 3,102 based on an exchange rate of IDR 16,330 per USD), the potential for a major price rally remains high. Some experts even predict that DOGE could surge to $10 (around IDR 163,300) if the bullish momentum continues.

A well-known crypto analyst, Bluntz, an expert in Elliott Wave Theory, stated that Dogecoin has completed an ABC correction pattern against both the US dollar and Bitcoin.

In Elliott Wave Theory, once a correction phase ends, an asset typically enters a five-wave rally, signaling a potential price surge. Bluntz estimates that Dogecoin could rise by as much as 200% from its current levels.

"Meme coins are still underestimated by many, but Dogecoin’s technical pattern suggests a major breakout ahead. The ABC correction is now complete on DOGE’s daily chart against USD and BTC. A 2x to 3x price increase could be imminent," said Bluntz, as reported by Yahoo Finance on Saturday, February 8, 2025.

Meme Coins Regain Investor Attention

It’s not just Dogecoin—another meme token, Floki, is also showing signs of an upward trend. Bluntz has identified a bullish divergence on Floki’s daily chart, a typical indicator of a potential price reversal.

“Floki has printed a strong bullish signal after touching a key level. A confirmation could come today or tomorrow. Like it or not, meme token trends seem to be making a comeback,” Bluntz wrote.

Meanwhile, Bitcoin has dropped nearly 9% in the past week, with some major cryptocurrencies experiencing even steeper declines. XRP, Dogecoin, and Cardano have been hit the hardest, losing approximately 26% over the past seven days.

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