A top trader known for making timely altcoin predictions says one Dogecoin (DOGE) challenger is primed for a parabolic surge.
Pseudonymous analyst Bluntz tells his 304,300 followers on the social media platform X that the time for vertical Shiba Inu (SHIB) rallies is coming.
The trader shares a chart suggesting that SHIB may be close to repeating its early 2024 price action when it exploded by about 450% in just two months.
“SHIB looks insanely strong, it’s obviously in a solid uptrend but it’s been a controlled one, no parabolic break… YET.
But it’s coming, SHIB/BTC pair also accumulating at rock bottom. I legit think this will pull multiple Xs.”
At time of writing, SHIB is trading for $0.0000276.
Another memecoin on the trader’s radar is the Solana (SOL)-based altcoin dogwifhat (WIF). Bluntz says WIF appears to be in the early stages of a five-wave uptrend that could propel the meme token to double digits.
“$10+ WIF is inevitable.”
Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rise before concluding an impulsive move up. Based on the trader’s chart, he seems to predict that WIF could climb to as high as $12.
At time of writing, WIF is worth $3.41.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Top Trader Says Dogecoin Rival Looks ‘Insanely Strong,’ Predicts Incoming Parabolic Break for Large-Cap Memecoin appeared first on The Daily Hodl.
