A prominent cryptocurrency analyst and trader known by the pseudonym Bluntz has shared optimistic views on a leading altcoin that has surged over 500% in just five months.

Bluntz, addressing his 264,100 followers on X, a popular social media platform, highlights that FLOKI is consolidating at a robust support level according to the four-hour chart analysis. He asserts that an inverse head and shoulders (IHS) pattern has formed, a typically bullish indicator, predicting, “It’s poised to surge, in my view.” (See image below)

FLOKI is presently trading at $0.000178, a significant increase from its low of $0.0000269 on February 5th.

The anonymous analyst notes a rising trading volume concurrent with FLOKI’s breakout above a descending trend line, affirming, “This aligns perfectly with the IHS setup, suggesting an imminent parabolic move.” (See image below)

Bluntz had previously expressed optimism about dogwifhat (WIF), a memecoin based on Solana, forecasting a potential 444% rally by November. Drawing on his technical analysis using the Elliott Wave theory, he anticipates WIF’s development of a five-wave pattern, projecting a rise to $11 within four months. The Elliott Wave theory posits that asset prices move in five-wave and three-wave patterns to indicate trends and corrections respectively. (See image below)

WIF is currently trading at $2.02.

For more updates and insights, follow Bluntz on X, Facebook, and Telegram, and stay tuned to The Daily Hodl Mix for the latest news. (See image below)

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