A widely followed cryptocurrency analyst and trader is bullish on the second-largest memecoin by market capitalization.
The pseudonymous analyst known as Bluntz tell his 302,600 followers on social media platformSHIB) like Dogecoin (DOGE) its rival is trying to break through a resistance level in place since March.
“Loading shib god candles”
The widely followed analyst said,
“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.
Against his Bitcoin (BTC) pair, Bluntz said that Shiba Inu is in a “bargain price” zone.
The analyst is also bullish on Dogecoin. According to For 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.
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