A top trader predicts a parabolic break for a strong Dogecoin rival, Shiba Inu (SHIB). Pseudonymous analyst Bluntz tells his 304,300 followers on X that SHIB is primed for a vertical rally.
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.
