A crypto analyst who correctly predicted Bitcoin’s 2018 bottom is betting big on a Solana-based memecoin. Known as Bluntz, this popular trader believes DogWifHat (WIF) could surge by over 450%.
WIF’s Potential 450%+ Rally
Bluntz, with over 300,000 followers on X (formerly Twitter), sees a strong possibility of WIF reaching and exceeding its all-time high, set in March 2024. He points to a five-wave bullish pattern, consistent with Elliott Wave theory, as a key indicator. This theory suggests that market trends move in five-wave patterns followed by three-wave corrections. Bluntz’s analysis, based on three-day charts, shows WIF hitting bottom earlier this year.
Short-Term Correction Expected
While bullish on WIF’s long-term potential, Bluntz anticipates a short-term correction. Based on one-hour charts, he predicts a possible 10% pullback before the next major price increase.
Current Price and Disclaimer
WIF is currently trading around $0.845. It’s important to remember that this is just one analyst’s opinion, and cryptocurrency investments are inherently risky. Always do your own research before investing.