A well-known trader is known for his timely altcoin predictions and Dogecoin $0.409918 (DOGE) is on the verge of a significant parabolic rise for its rival Shiba Inu (SHIB).
Expected Rise for SHIB
Anonymous analyst Bluntz announced on the social media platform X that SHIBA Coin is preparing for a vertical rise. Bluntz shared a chart indicating that the SHIB price could repeat the price movements of early 2024.
Bluntz stated that SHIB is in a strong uptrend, but a parabolic breakout has not occurred yet.
“SHIB looks incredibly strong, clearly in a solid uptrend but no parabolic breakout yet…
Stating that the SHIB/BTC pair has accumulated at the bottom level, Bluntz predicts that SHIB may rise rapidly. He also shared his positive expectations for the Solana-based memecoin called dogwifhat (WIF).
Trader’s Predictions and Analysis
Bluntz claims that WIF is in the early stages of a five-wave uptrend and that the meme token could reach double-digit values.
“Above $10 is inevitable for WIF Coin.”
Bluntz stated that he applied the Elliott Wave Theory, which suggests that a rising asset will experience five waves of rise before completing an impulsive upward move. Trader predicts WIF could rise as high as $12.
Currently, SHIB is trading at $0.0000266 while WIF is trading at $2.81. Bluntz’s analysis shows that both memecoins have the potential to generate significant gains.
Bluntz’s forecasts provide investors with important information about the current market conditions and potential uptrends of SHIB and WIF. Investors are recommended to make their own decisions by evaluating market analysis.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
