A widely followed crypto analyst and vendor is expressing bullish sentiment on an altcoin within the Solana (SOL) ecosystem that has skyrocketed by triple digits in four weeks.
The analyst pseudonymously is 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-formed recovery on the hourly chart.
Per the pseudonymous analyst’s chart, it looks that the memecoin has achieved a three-wave pattern, which signifies the tip of a correction, as per the Elliott Wave theory.
The Elliott Wave theory states that the principle development of the value of an asset moves in a five-wave pattern while a minor corrective development moves in a three-wave pattern.
WIF is trading at $2.08 at time of writing, a succeed in of 994% from the February seventh shut of $0.190.
Per Bluntz, WIF can even indulge in by up to 44% from the hot level within the next leg of the rally.
“$2.50 – $3 subsequent however you wouldn’t imagine it.”
Bluntz additionally provides his forecast on the Pepe (PEPE) memecoin which has additionally recorded triple-digit rallies accurate thru the last 30 days.
“No impulsive decline but on PEPE, soundless looks corrective and soundless demand contemporary highs from right here.”
PEPE is trading at $0.000008116 at time of writing, up around 780% accurate thru the last month. A 1000PEPE perpetual contract tracks the Pepe token and represents, as the logo suggests, 1,000 PEPE tokens.
Generated Image: Midjourney
