A prominent cryptocurrency analyst and trader, known as Bluntztellshis, is expressing a bullish sentiment towards Shiba Inu (SHIB), the second-largest memecoin by market capitalization. Bluntztellshis, who has a following of 302,600 on the social media platform X, believes that a “god candle” is forming for SHIB. This refers to a significant and sustained upward price movement. SHIB is currently attempting to break through a resistance level that has been in place since March, making this a crucial moment for the cryptocurrency.

Bluntztellshis also comments on the potential for retail investors to drive up the price of SHIB. He believes that these investors will pump SHIB when the meme bid returns because it is a coin that they still hold in their wallets from the previous cycle. At the time of writing, SHIB is trading at $0.0000316.

Regarding Dogecoin (DOGE), Bluntztellshis also leans bullish. According to his technical analysis, Dogecoin has formed a five-wave pattern on its US dollar pair and Bitcoin pair charts. This aligns with the Elliott Wave theory, which suggests that the price of an asset follows a five-wave pattern in its main trend and a three-wave pattern during corrections. Bluntztellshis believes that this is the last opportunity to enter DOGE before it breaks out. DOGE is currently trading at 0.00000430 BTC ($0.436).

It is important to note that the opinions expressed by Bluntztellshis and The Daily Hodl are not investment advice. Investors should conduct their own research and exercise caution when investing in Bitcoin, cryptocurrencies, or digital assets. Transfers and trades are undertaken at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not an investment advisor.