A extensively 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 called 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 top of a correction, as per the Elliott Wave concept.
The Elliott Wave concept states that the primary 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 achieve of 994% from the February seventh shut of $0.190.
According to Bluntz, WIF may recognize 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 seems corrective and nonetheless count on 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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