A top trader known for making timely altcoin predictions says one Dogecoin (DOGE) challenger is primed for a parabolic surge.

Pseudonymous analyst Bluntz tells his 304,300 followers on the social media platform X that the time for vertical Shiba Inu (SHIB) rallies is coming.

The trader shares a chart suggesting that SHIB may be close to repeating its early 2024 price action when it exploded by about 450% in just two months.

“SHIB looks insanely strong, it’s obviously in a solid uptrend but it’s been a controlled one, no parabolic break… YET.

But it’s coming, SHIB/BTC pair also accumulating at rock bottom. I legit think this will pull multiple Xs.”

At time of writing, SHIB is trading for $0.0000276.

Another memecoin on the trader’s radar is the Solana (SOL)-based altcoin dogwifhat (WIF). Bluntz says WIF appears to be in the early stages of a five-wave uptrend that could propel the meme token to double digits.

“$10+ WIF is inevitable.”

Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rise before concluding an impulsive move up. Based on the trader’s chart, he seems to predict that WIF could climb to as high as $12.

At time of writing, WIF is worth $3.41.