A widely followed cryptocurrency analyst believes one Dogecoin (DOGE) and Shiba Inu (SHIB) competitor is gearing up for a huge upside burst.
The analyst pseudonymously known as Bluntz tells his 307,800 followers on the social media platform X that FLOKI (FLOKI) is primed to go up by at least 114% from its current level.
Based on the widely followed analyst’s chart, it appears he is suggesting that FLOKI has almost completed an inverse head-and-shoulders pattern on the weekly time frame. In technical analysis, inverse head-and-shoulders patterns suggest that an asset may be poised to rally after printing a bullish higher-low setup with a right shoulder.
“FLOKI has been accumulating here for almost a year and working on putting a high-time frame right shoulder.
Its time will come and no doubt makes fresh all-time highs within the next couple of months in my opinion.”
FLOKI is trading at $0.000161 at time of writing, down by 53% from its all-time high of $0.000345 reached in June of 2024.
The pseudonymous analyst also offers his thoughts on the layer-one altcoin Sui (SUI). Bluntz says Sui looks strong despite the current market correction.
“The SUI daily [chart] is a sight to behold, just consistent strength.
Always dips the least and makes fresh all-time highs at the slightest bit of marketwide strength.
Fresh all-time highs on the cards in my opinion.”
SUI is trading at $4.60 at time of writing, down by around 15% from the all-time high of about $5.35 reached earlier this month.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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