The widely respected cryptocurrency analyst and trader is bullish on the second-largest memecoin by market capitalization.
The analyst, who goes by the pseudonym Bluntz, tells his 302,600 followers on social media platform Attempting to break through resistance levels that have persisted since March.
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A widely followed analyst says:
“I’m sure the retail (investment crowd) will be pumping SHIB when the meme bids come back because SHIB is a dinosaur coin they still have in their wallets from last cycle.”
SHIB is trading at $0.0000316 at the time of this writing.
Bluntz says Shiba Inu is in a “cheap pricing” zone for the Bitcoin (BTC) pair.
Analysts are also bullish on Dogecoin. According to the analyst, who regularly applies Elliott Wave theory in technical analysis, Dogecoin has formed a five-wave pattern on the 4-hours chart of the US dollar pair and the 8-hours chart of the Bitcoin pair.
According to Elliott Wave Theory, major trends in asset prices move in a five-wave pattern and corrections occur in a three-wave pattern.
“This is your last chance to make a good entry into DOGE before the breakout. All waves within the triangle occupy USD and BTC pairs.
“Don’t say you weren’t warned.”
Dogecoin is trading at 0.00000430 BTC ($0.436) at the time of this writing.
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