Exciting developments continue to occur in the cryptocurrency world. Recently, the meme coin dogwifhat (WIF), which is located in the Solana (SOL) ecosystem and has shown a remarkable performance, has been on the agenda with positive evaluations made by a crypto analyst.
The analyst, whom we know under the pseudonym Bluntz, believes that the upward trend of dogwifhat (WIF), which has increased by 968% in the last month, will continue. your predictions expressed. In particular, he noted that the meme coin is showing a V-shaped recovery on the hourly chart, indicating a “monster” rally. This evaluation shows that the analyst sheds light on investors by making a careful technical analysis.
Based on the details of the analysis, it appears that the meme coin has completed a three-wave pattern indicating the end of a correction in line with the Elliott Wave theory.
Elliot Wave theory is a technical analysis tool that predicts future price movements by manifesting in waves and following crowd psychology. According to the said theory, when an asset is in an uptrend, it usually witnesses an ABC correction wave before initiating the next major uptrend. According to Bluntz’s analysis, meme coin has completed this phase.
WIF is trading at $2.03 at press time, up 968% from $0.19 on February 7. According to Bluntz, WIF could gain up to 47% from its current level in the next leg of the rally.
“Next is $2.50 – $3, but you may not believe it.”
Another meme coin on Bluntz’s radar is Pepe (PEPE). PEPE has also achieved a big rally in the past weeks during the meme coin craze. The analyst said about PEPE:
“There is no sudden decline in PEPE yet, it still appears to be in correction phase and we are still expecting new highs from here.”
PEPE is trading at $0.000007916 at press time and has gained 723% in value in the past month.
You can follow the current price movement here.
