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Popular crypto analyst and strategist Rekt Capital has drawn parallels between the current price movements of Shiba Inu (SHIB), Solana (SOL), and Dogecoin (DOGE) and historical models to provide significant insights on the potential trends of these altcoins. The analyst highlighted the similarities between SHIB’s retesting of its current support levels and its behavior during the 2021 bull market. Rekt Capital also noted that SOL has turned resistance into support and suggested that DOGE might be forming a bullish continuation pattern.
Shiba Inu’s SHIB Poised for a Major Breakout
With a large following on social media platform X, Rekt Capital pointed out that Shiba Inu’s SHIB is currently retesting the weekly support level at $0.0000279. This level was tested before during the 2021 bull market, right before SHIB reached its all-time high of $0.0000861.
The analyst stated that SHIB’s current price movement reflects the price behavior at the end of 2021 and historical models indicate a potential repeat, which could raise investor expectations.
Positive Retest News for Solana’s SOL
Furthermore, Rekt Capital highlighted the recent performance of Solana’s SOL, mentioning that the smart contract platform successfully turned the $175 resistance into support. This development presents a positive outlook for SOL, which is currently trading at $185.24.
The analyst emphasized that SOL’s retest is ongoing but looks successful, potentially signaling further rises for the popular altcoin.
Dogecoin Signals Strengthening in Bullish Trend
In addition to SHIB and SOL, Rekt Capital assessed the price movement of the largest memecoin, Dogecoin, identifying a possible bullish continuation formation on the weekly chart.
Currently, DOGE has rallied by 38% after breaking a multi-month diagonal resistance, indicating potential strength in its uptrend. According to Rekt Capital’s analysis, if DOGE continues to hold above its current high levels, it could form a bull flag formation.
