$BUDZ—one week of Elliott Waves for Shiba BUDZBUDZ is one week old on Uniswap V3. Launched on April 20 in a pair with Wrapped Ether on the Ethereum network, trading has been very successful for early buyers, but it also has been very sparse. With the presale investors still locked up in vesting period, there is very little to do on Uniswap but to buy. With low liquidity, it is not surprising that prices rise quickly.
Nevertheless, the market has already shown distinct and well formed Elliott Waves. Many don’t believe in Elliott, and especially not in thin markets, but BUDZ proves them wrong. My assignment may not be the ultimately correct one, but I challenge any one to do better. I have other models myself, but this stands out as the top candidate as of right now.
What stands out as the most potent support of this model, was that I correctly predicted the correction from the market at just the right time, in a wave two decline of exactly the proportion that a skilled Elliott waver would expect. Study the chart…
BUDZ
A BUDZ is born—The first 48 hours2024-04-22
Shiba BUDZ / Wrapped ETH in USD on Uniswap V3
Shiba BUDZ is touted as a rival to the popular Shiba Inu meme token, but with more functionality , such as gaming and DeFi.
On April 19, 2024, Shiba BUDZ concluded its presale at the token price of 0.04745536 USD, with the initial stage price of $0.007.
The following day (4/20) at 10:36 UTC, the token was launched on Uniswap V3 for trading as a pair with Wrapped Ether (WETH), with an initial equivalent price of about USD$0.047.
The first token airdrop to presale investors is scheduled on 4/22 for a tranche of 25% of purchase.
OTC trading on Uniswap over the weekend was very sparse, but buyers lifted the price to over 11 cents, for a bottom to top gain of over 130%, before correcting in what appears to be the first fourth wave in my tentative Elliott wave assignment.
OWCP Ready to go longThe chart for OWCP looks ready to resume the upward trend. Look for continued higher lows.
