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A prime crypto strategist believes that memecoin dogwifhat (WIF) is now poised to witness a rise of greater than 350%.
Earlier this month, pseudonymous analyst Bluntz told his 265,200 followers that WIF was within the early levels of a recent five-wave surge.
The analyst depends on the Elliott Wave principle, which states {that a} bullish asset tends to undergo a five-wave rally after finishing an ABC corrective transfer.
With WIF now buying and selling at $2.21, Bluntz believes that WIF’s ABC correction is over and the memecoin is able to ignite a large upside transfer.
“$10 WIF is coded by legislation.
As soon as it begins correctly going, do you suppose all these individuals who missed the final run from cents to $5 are going to overlook spherical two?
Not an opportunity.”
The analyst can also be bullish on fellow memecoin Floki (FLOKI). He thinks FLOKI has accomplished its ABC correction and is gearing up for a rally to a brand new all-time excessive at round $0.00045.
Bluntz provides that FLOKI can also be flashing a bullish divergence on the day by day chart, indicating {that a} development reversal could also be in sight.
“Floki is correct up there as one in all my favourite memes in the meanwhile.
Clear as day macro ABC construction accomplished, 5 waves clearly seen inside the C and excessive timeframe [bullish divergence] on the lows.
All-time excessive en route, for my part.”
At time of writing, FLOKI is value $0.00019.
One other memecoin on Bluntz’s checklist is the Solana (SOL)-based altcoin Popcat (POPCAT). In response to the analyst, blue skies are forward for POPCAT after taking out its final resistance stage at $0.72.
“Introduced with out remark.
Popcat.”
At time of writing, POPCAT is buying and selling at $0.853, up almost 13% on the day.
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