DeFi News Daily Official TheBitTimes.com

A top trader known for making timely altcoin predictions says one Dogecoin (DOGE) challenger is primed for a parabolic surge. Pseudonymous analyst Bluntz tells his 304,300 followers on the social media platform X that the time for vertical Shiba Inu (SHIB) rallies is coming. 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.” Source: Bluntz/X 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 d...

A crypto strategist known for calling bottoms believes the altcoin market is one correction away from igniting rallies. Pseudonymous analyst Bluntz tells his 269,600 followers on the social media platform X that he’s keeping an eye on the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin, Ethereum (ETH) and stablecoins. Bluntz says TOTAL3, which is used to gauge the performance of altcoins, looks poised for a leg down before it regains bullish momentum. “Although TOTAL3 structurally looks amazing, very clear five-wave rise from the lows on the four-hour [chart]. I still think an ABC correcting that impulse from the lows is materializing and has yet to do a C wave down. I would be careful being max long right now, good entries will come…” Source: Bluntz/X The analyst practices the Elliott Wave theory, which states that a bullish asset tends to witness rallies after completing an ABC move down. Based on the trade...