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‘God Candle Loading’: Top Analyst Says Retail Investors Primed To Trigger Rally in One Dogecoin Competitor

n70products by n70products
December 6, 2024
in Altcoin
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‘God Candle Loading’: Top Analyst Says Retail Investors Primed To Trigger Rally in One Dogecoin Competitor
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A broadly adopted cryptocurrency analyst and dealer is leaning bullish on the second-largest memecoin by market capitalization.

The analyst pseudonymously generally known as Bluntz tells his 302,600 followers on the social media platform X {that a} “god candle”, an enormous candlestick denoting a speedy and sustained upward worth motion, is loading for Shiba Inu (SHIB) because the Dogecoin (DOGE) rival makes an attempt to interrupt above a resistance stage that has been in place since March.

“shib god candle loading”

Image
Supply: Bluntz/X

The broadly adopted analyst additional says,

“I’m satisfied retail [investing crowd] goes to pump SHIB when the meme bid comes again as a result of it’s a dinosaur coin that they nonetheless have of their wallets from final cycle.”

SHIB is buying and selling at $0.0000316 at time of writing.

Towards its Bitcoin (BTC) pair, Bluntz says that Shiba Inu is in a “cut price basement pricing” zone.

Image
Supply: Bluntz/X

The analyst can also be leaning bullish on Dogecoin. According to the analyst who commonly applies the Elliott Wave principle in his technical evaluation, Dogecoin has shaped a five-wave sample on the four-hour chart of its US greenback pair and the eight-hour chart of its Bitcoin pair.

Per the Elliott Wave principle, the primary development of the worth of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample.

“That is the final probability to get a great entry on DOGE earlier than the breakout, all waves inside triangle accounted for on USD and BTC pair.

Don’t say you weren’t warned.”

Image
Supply: Bluntz/X

Dogecoin is buying and selling at 0.00000430 BTC ($0.436) at time of writing.

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Tags: AnalystCandleCompetitorDogecoinGodinvestorsLoadingPrimedRallyRetailTopTrigger
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