An experienced trader renowned for accurately predicting movements in alternative cryptocurrencies believes that a rival to Dogecoin (DOGE) is on the verge of a significant surge.
Operating under the pseudonym Bluntz, the analyst informs his 304,300 followers on the social media platform X that Shiba Inu (SHIB) is gearing up for a potential exponential increase.
Bluntz shares a chart indicating that SHIB could be on the brink of replicating its impressive price action from early 2024, during which it skyrocketed by approximately 450% within a span of two months.
“SHIB appears incredibly robust, currently in a strong upward trend but has yet to experience a parabolic breakthrough… YET.
However, it’s on the horizon, with the SHIB/BTC pair also accumulating at its lowest point. I genuinely believe this will result in significant gains.”
As of the current writing, SHIB is being traded at $0.0000276.
Another meme coin that has caught the trader’s attention is dogwifhat (WIF), which is based on the Solana (SOL) platform. Bluntz suggests that WIF seems to be in the early stages of a five-wave upward trend that could propel the token into the double-digit price range.
“$10+ WIF is inevitable.”
Bluntz follows the Elliott Wave theory, which suggests that a bullish asset typically experiences a five-wave rise before completing a significant upward move. Based on the trader’s analysis, WIF could potentially reach as high as $12.
Currently, WIF is valued at $3.41.
Don’t Miss a Beat – Subscribe to receive email alerts directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Explore The Daily Hodl Mix
Generated Image: Midjourney
