A widely followed cryptocurrency analyst and trader is bullish on the second-largest memecoin by market capitalization.
The pseudonymous analyst known as Bluntz tells his 302,600 followers on social media platform Inu (SHIB) as a rival to Dogecoin (DOGE). is trying to break through a resistance level that has been in place since March.
“Loading shib god candles”
The widely followed analyst further states:
“I am confident that retail (investors) will pump SHIB when the meme supply returns, because it is a dinosaur coin that they still have in their portfolio from last cycle.”
SHIB is trading at $0.0000316 at the time of writing.
Compared to its Bitcoin (BTC) pair, Bluntz says Shiba Inu is in a “price advantage” zone.
The analyst is also bullish on Dogecoin. According to the analyst who regularly applies Elliott Wave theory in his technical analysis, Dogecoin formed a five-wave pattern on the four-hour chart of its US dollar pair and the eight-hour chart of its Bitcoin pair .
According to Elliott Wave Theory, the main price trend of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern.
“This is the last chance to get a good entry into DOGE before the breakout, all waves of the triangle represented the USD and BTC pair.
Don’t say you weren’t warned.
Dogecoin is trading at 0.00000430 BTC ($0.436) at the time of writing.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
