A top trader known for his timely altcoin predictions says a challenger to Dogecoin (DOGE) is poised 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) meetings is coming.
The trader shares a chart that suggests SHIB is about to repeat its price action from early 2024, when the price exploded by about 450% in just two months.
“SHIB looks insanely strong, it is clearly in a solid uptrend, but it has been a controlled trend, not a parabolic breakout… YET.
But it’s coming, the SHIB/BTC pair is also accumulating at a low point. I really think this will get several X’s.
At the time of writing, SHIB is trading at $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 into double digits.
“$10 + WIF is unavoidable.”
Bluntz applies the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rise before capping an impulsive rise. Based on the trader’s chart, he seems to predict that WIF could rise to $12.
At the time of writing, WIF is worth $3.41.
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Generated image: Midjourney
