A broadly adopted crypto analyst and dealer is expressing bullish sentiment on an altcoin within the Solana (SOL) ecosystem that has skyrocketed by triple digits in 4 weeks.
The analyst pseudonymously often known as Bluntz tells his 244,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is primed for a “monster” surge after making a V-shaped restoration on the hourly chart.
Primarily based on the pseudonymous analyst’s chart, it seems that the memecoin has accomplished a three-wave sample, which signifies the tip of a correction, as per the Elliott Wave concept.
The Elliott Wave concept states that the principle pattern of the worth of an asset strikes in a five-wave sample whereas a minor corrective pattern strikes in a three-wave sample.
WIF is buying and selling at $2.08 at time of writing, a acquire of 994% from the February seventh shut of $0.190.
According to Bluntz, WIF may respect by as much as 44% from the present stage within the subsequent leg of the rally.
“$2.50 – $3 subsequent however you wouldn’t imagine it.”
Bluntz additionally offers his forecast on the Pepe (PEPE) memecoin which has additionally recorded triple-digit rallies over the previous 30 days.
“No impulsive decline but on PEPE, nonetheless appears corrective and nonetheless anticipate contemporary highs from right here.”
PEPE is buying and selling at $0.000008116 at time of writing, up round 780% over the previous month. A 1000PEPE perpetual contract tracks the Pepe token and represents, because the image suggests, 1,000 PEPE tokens.
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