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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Generated Image: Midjourney
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