DeFi News Daily Official TheBitTimes.com

An analyst who has earned the Master Trader rank on the crypto exchange Bybit believes memecoins are starting to flip bullish. Pseudonymous analyst Bluntz tells his 328,100 followers on X that the meme token Pudgy Penguins (PENGU) is flashing a bullish reversal signal on the eight-hour chart. “When this PENGU wedge inevitably breaks, I think it will full send. In fact, all memes are low-key starting to look really good again.” Source: Bluntz/X At time of writing, PENGU is trading at $0.323, up over 12% on the day. Another memecoin on the trader’s radar is Useless Coin (USELESS). Bluntz says USELESS appears to have completed an ABC correction on the daily chart, suggesting new rallies are in sight. The trader practices the Elliott Wave theory, which states that a bullish asset tends to launch a five-wave surge after concluding an ABC corrective wave. “Got a lot of hate for saying this, but this was in fact the top before a 63% pullback. ...

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...